Seadrill's share surges after new contracts

Investors send Seadrill's share skyward after weeks in which the rig company has announced several new contracts at higher rates. The share has surged by more than 135 percent in the past month.

BY RITZAU FINANS

Published: 03.01.20 at 10:27

Large contracts awarded to Norwegian rig company Seadrill make investors cheer.

In one month, the Seadrill share has surged from NOK 10.17 (USD 1.15) ti NOK 23.92 on Thursday this week, corresponding to an increase of more than 135 percent. On Monday, Seadrill announced that it had secured extensions for large contracts in the Middle East for two of its oil rigs.