Seadrill expects major setback in third quarter

In the second quarter, John Fredriksen's drilling company Seadrill lost USD 158 million. CFO Mark Morris explained in an investor call Thursday that management expects a profit in the next quarter, albeit much reduced from the year before. He also revealed some details of the major rescue plan.

by SACHA SENNOV

Thursday morning, Norwegian Seadrill released another interim report showing massive economic setbacks with a net loss of USD 158 million.

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Seadrill loses USD 158 million in the second quarter
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Seadrill's problems have sent share price down the drain
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Seadrill gets more time for restructuring
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