Seadrill reduced its deficit in the first quarter

John Fredriksen's drilling company Seadrill managed to reduce its deficit in the first quarter this year. The company's utilization rate stands at more than 90 percent the for whole fleet.

Photo: Seadrill

Seadrill is still losing money, but not as much in the first quarter this year as it did the fourth quarter last year.

Revenue dropped slightly in the first quarter 2015 to USD 1.24 billion from USD 1.26 billion in the fourth quarter last year. And the bottom line finished somewhat better, with a reduced deficit of USD 197 million in the period compared to a loss of USD 251 million in the fourth quarter last year.

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