Seadrill said today that it had agreed a three year contract extension with Saudi Aramco for the AOD III jack-up rig.
A subsidiary of offshore drilling contractor Seadrill has confirmed it lodged a complaint against Statoil at a court in Stavanger.
Offshore drilling contractor Seadrill suffered a 25% drop in revenues in the third quarter.
Seadrill, a London-headquartered offshore drilling contractor, said today that it had agreed an extension on its lending facility.
The offshore fleet tending to Norway’s oil industry, already sailing through the worst downturn in a generation, is in for even more pain, according to the head of the Norwegian Shipowners’ Association.
Seadrill was forced to issue a statement after rumors of a billionaire coming to its financial rescue set its shares soaring.
Seadrill Ltd.’s billionaire chairman and largest shareholder, John Fredriksen, is willing to lend the rig company as much as $1.2 billion as part of a potential deal with banks and bondholders to restructure the biggest debt load in the offshore-drilling industry, two people familiar with the matter said.
Thailand-based offshore drilling firm Mermaid Maritime has appointed a new regional director.
Seadrill’s chief executive said the firm benefited from an uptake in short-term work as it continues to battle a challenging marketplace.
Drilling contractor Seadrill is “reviewing its legal options” in a dispute with Mexican state-owned company Pemex over a rig contract cancellation.
A London-headquartered offshore drilling contractor has agreed to rent out two of its rigs to a customer in the Middle East for another three years in a deal worth $225million (£170million). Saudi Aramco has been leasing Seadrill’s AOD I and AOD II jack-up rigs since 2013. In line with the new agreement, Saudi Aramco will keep hold of the platforms until summer 2019.
Seadrill has confirmed the issuance of new shares of its common stock.
Seadrill Ltd., the offshore driller seeking to cut its debt load, agreed to swap bonds for equity in the second such deal in less than a month.
Seadrill has appointed Anton Dibowitz as executive vice president, adding to his ongoing role as chief commercial officer and freeing chief executive Per Wullf to focus on a refinancing process.
Offshore oil drillers operating in Norway warn that a possible strike over wages could deepen the worst market downturn in a generation.
Seadrill today said it achieved "record operational uptime" in the first quarter of the year.
Statoil has cancelled its contract with Seadrill for the West Hercules drilling rig.
Seadrill today confirmed it had agreed a deal with senior note holders worth $55million.
Seadrill Ltd., the offshore driller with the biggest debtload, reached a deal with its banks to extend its three nearest credit lines and amend covenants as it seeks to ease its burden amid a drop in the demand for offshore rigs.
Seadrill has sold its remaining stake of approximately 490 million shares in Malaysia's SapuraKencana in a $195 million deal.
Seadrill said it plans to make more than 100 redundancies from its Houston office.
Seadrill has hired debt advisors to help negotiations on an $11 restructuring plan, according to reports.
Seadrill has been awarded an 18 month contract extension for the drillship West Tellus by Petrobras after cutting its day rate.
Seadrill Ltd., the offshore driller struggling with the industry’s biggest debt load, surged by a record for a second straight day as investors covered short bets amid speculation of a lifeline from the company’s biggest shareholder, billionaire John Fredriksen.
Offshore drilling firm Seadrill rose the most in more than seven years as investors covered short bets after the company’s main owner, billionaire John Fredriksen, freed up $510 million in cash, fueling speculation of a bailout.