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Seadrill in new setback in the second quarter

Norwegian drilling company Seadrill saw its operating result and revenue dip further in the second quarter, though the driller managed to reduce its debt by a fraction in the period.

Photo: Seadrill

Seadrill, owned by Norwegian shipping magnate John Frederiksen, is still battling with the sluggish offshore market, delivering a lower revenue and operation in the second quarter of the year.

Revenue fell to USD 868 million from USD 1.1 billion in the second quarter last year, according to Seadrill's interim report, published Wednesday.

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