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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.

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