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Seadrill's deficit deepened in the first quarter

Rig operator Seadrill finished the first quarter of the year with a bigger deficit than in the previous quarter, even though revenue grew in the period. Last year the rig company was fighting for its survival.

Photo: Seadrill

John Fredriksen's rig company Seadrill wrapped up the first quarter with an operating deficit of USD 71 million.

Revenue grew to USD 302 million in the first months of the year, from USD 292 million in the fourth quarter last year, but the rig company's deficit deepened by USD 2 million between the two quarters, according to Seadrill's earnings report.

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