Seadrill bags large cash payment after settling rig dispute

John Fredriksen's hard-pressed drilling company Seadrill gets a breather with a large cash payment following conclusion of the dispute concerning rig West Mira. The company also makes a cash impairment to account for the rig's value.

by DANIEL LOGAN

Seadrill has now settled a protracted dispute with shipbuilder Hyundai Samho Heavy Industries regarding rig West Mira, which began in October 2015 when construction of the rig was canceled at the South Korean yard, informs Seadrill in a stock exchange filing.

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Seadrill fighting the clock to avoid receivership
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Struggling Seadrill postpones annual report
Media: Seadrill's debt has reached USD 14 billion
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