Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Seadrill Partners LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Angolan state oil company Sonangol said on Friday it has opened a public tender to sell its stakes in some private firms as part of a government bid to privatise key state assets including parts of Sonangol itself by 2022. Describing Sonangol as an "octopus," the country's minister of Mineral Resources and Petroleum, Diamantino Azevedo, has said it would need to shed stakes in everything from hotels to aviation around the world before a 30% share sale in 2022.

Is SeaDrill Limited (NYSE:SDRL) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus […]

Seadrill has started discussions with its bank lenders on how to restructure the company's debt, the drilling rig company's Chief Executive Anton Dibowitz told Reuters on Thursday. "We have had meetings with a large number of our banks individually on a proactive basis to discuss how we can together face the challenges the industry has with debt, and with debt that we specifically have," he said in a telephone interview. Seadrill, which emerged from U.S. Chapter 11 bankruptcy proceedings only 16 months ago, had debts and liabilities of $7.5 billion at the end of the third quarter, the company's balance sheet showed.

Seadrill Limited ("Seadrill" or the "Company") is pleased to announce that Glen Ole Rødland has been selected to succeed John Fredriksen as Chairman of Seadrill effective from November 21, 2019. In addition, as part of the Board succession planning process, Seadrill confirms that Harald Thorstein will step down as non-executive director of Seadrill effective from November 21, 2019. Gunnar Winther Eliassen will be appointed to the Seadrill Board as non-executive director effective November 21, 2019.

Seadrill Chairman John Fredriksen, the oil rig firm's top shareholder, is stepping down with immediate effect, the company said on Thursday, as it holds discussions with lenders about restructuring its massive debts. The 75-year-old billionaire investor, who said his support for the company remained unchanged, will be replaced by Glen Ole Roedland, who has worked in shipping, oil, gas and other industries, Seadrill said. The company, which is listed in Oslo and New York, only emerged from U.S. Chapter 11 bankruptcy proceedings in July 2018, after converting unsecured bonds to equity and extending maturities on $5.7 billion of bank loans.

This photo shows the Seadrill-operated West Bollsta harsh-environment rig, which will mobilize on the Norwegian Continental Shelf. PHOTO SOURCE: Semco Maritime.

Seadrill Limited is scheduled to release its fourth quarter 2019 results on Thursday 27th February 2020.

NEW YORK, NY / ACCESSWIRE / November 21, 2019 / Seadrill Ltd. (NYSE: SDRL ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on November 21, 2019 at 9:00 AM Eastern ...

Seadrill Limited (“Seadrill”) has secured a multiple well contract with Vår Energy AS for the West Phoenix for work on the Balder re-development project in Norway. Total contract value for the firm portion of the contract is expected to be approximately $302 million with commencement expected at the end of 2Q 2021 and running through 3Q 2023. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F (File No. 333-224459).

By Geoffrey Smith

Seadrill Limited (the "Company" or "Seadrill") (NYSE: SDRL) (OSE: SDRL), today announced that on March 26, 2020, the Company has received written notice from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common shares had fallen below $1.00 per share over a period of 30 consecutive trading days. As of March 24, 2020, the average closing price per share of the Company over the preceding 30 trading day period was $0.99.

Hamilton, Bermuda, December 30, 2019 - Seadrill Limited (“Seadrill”) has secured a three year contract  for each of the AOD II and AOD III in the Middle East, in direct continuation of their current contracts. Total contract value is expected to be approximately $98 million and $101 million respectively. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts.

At the time, onshore oil was steadily getting harder to find and more expensive to extract. Shale oil was getting started, but pulling oil out of those tight formations was very expensive and required constant drilling of new wells since output declined quickly.

Highlights Lower economic utilization of 93% primarily due to the West Linus 5-year classingRevenue up 14% at $367 million with increasing reimbursable revenues and more.

Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion debt pile, and is exploring enlisting a turnaround firm that specializes in urgently addressing stressed finances to bolster its roster of advisers, the sources said. The London-based company had already been working with investment bank Lazard Ltd on options for addressing its debt, in addition to a series of cost-cutting measures already underway.

A Chinese survey ship that had been involved in a month-long standoff with a Malaysian oil exploration vessel in the South China Sea has left Malaysia's exclusive economic zone (EEZ), shipping data showed on Friday. Since mid-April, the Haiyang Dizhi 8 had been surveying in the EEZ, close to where a drillship contracted by Malaysian state oil firm Petronas had been operating in waters claimed by Malaysia, Vietnam as well as China. On Friday, the Haiyang Dizhi 8 moved out of Malaysia's EEZ heading north towards China and escorted by at least two Chinese vessels, according to data from ship tracking website Marine Traffic.

Billionaire John Fredriksen's Seadrill Ltd. re-hired long time adviser Houlihan Lokey Inc. to engage in fresh talks with lenders, people familiar with the situation said.

Moody's Investors Service ("Moody's") today downgraded Seadrill Partners LLC's (SDLP) corporate family rating (CFR) to Caa3 from Caa2 and probability of default rating (PDR) to Ca-PD from Caa2-PD. Concurrently, Moody's downgraded the rating assigned to the senior secured term loan B due 2021 and borrowed by SDLP's subsidiaries Seadrill Operating LP and Seadrill Partners Finco LLC to Caa3 from Caa2.

Companies in the news are: NVCN, VIVE, SDRL, UROV