Seadrill hemorrhages money during restructuring

Rig company Seadrill, currently under bankruptcy protection and working on a restructuring, has lost USD 220.3 million in the period from February 11 to the end of March this year, writes Finansavisen.

Photo: Seadrill

Although rig company Seadrill's revenue is increasing and the company recently secured a large drilling contract with Equinor worth USD 380 million, the company keeps losing money, writes Norwegian business daily Finansavisen.

From mid-February until the end of March this year, Seadrill has seen a deficit of USD 220.3 million, shows a financial report filed with the company's Chapter 11 protection at a court in Houston, Texas.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Esvagt strikes huge deal with Totalenergies

The French oil major expands its partnership with the Danish service carrier, which secures long-term contracts on eight vessels that will now deliver far more than safety solutions. The agreement is expected to create jobs for more than 160 seafarers.

Western Bulk aims for listing in third quarter

The strong dry bulk market is prompting Norway's Western Bulk to aim for a listing in the third quarter. The carrier projects that the market will strengthen in the second half of the year.

Further reading

Related articles

Trial banner

Latest news

See all jobs