Oil & Gas

Seadrill to sell West Polaris drillship


Offshore drilling company Seadrill Limited is to sell its West Polaris drillship to a subsidiary within the next week. Seadrill Operating, which is 58% owned by Seadrill Limited, will acquire all of its owner's shares of Seadrill Polaris, the entity which owns the the drillship.

Market info

Seadrill posts better than expected first-quarter profits


Seadrill has posted better than expected first-quarter profits as cost cuts help during the oil price decline. The offshore driller, which is controlled by billionaire John Fredriksen, posted a net income of $427 million. Chief executive Per Wullf said: “Seadrill continues to be focused on operational excellence and financial flexibility in order to manage through this downturn and thrive when the market recovers.

Oil & Gas

Seadrill acquires new vessel


Seadrill has taken ownership of an ultra deepwater drillship in a $456million deal with Ship Finance. The West Polaris was acquired by Ship Finance in 2008 and chartered to Seadrill with purchase options commencing in 2012.