Seadrill Limited (SDRL)

Seadrill Extends Share Repurchase ProgramJune 22, 2026 4:15 PM
Business Wire Seadrill Limited (“Seadrill” or the “Company”) (NYSE: SDRL) today announced that it has extended its share repurchase program, as part of its ongoing commitment to deliver shareholder returns. As previously announced, the Company’s Board of Directors (the “Board”) authorized a $500 million share repurchase program that would terminate on June 25, 2026 (as extended, the “Repurchase Program”). As of June 19, 2026, approximately $208 million of the $500 million authorized amount remained available under the Repurchase Program. On June 22, 2026, the Board authorized an extension of the Repurchase Program to run through December 31, 2026. While the Repurchase Program has a fixed expiration, it may be modified, suspended or discontinued at any time. Shares may be repurchased at any time and from time to time under the program in open market purchases, privately negotiated purchases, block trades, tender offers, accelerated share repurchase transactions or other derivative transactions, through the purchase of call options or the sale of put options, or otherwise, or by any combination of the foregoing. The Company is under no obligation to purchase any shares in respect of the Repurchase Program. The manner, timing, pricing and amount of any repurchases may be based upon a number of factors, including market conditions, the Company’s financial position and capital requirements, financial conditions, competing uses for cash, statutory solvency requirements, the restrictions in the Company’s debt agreements and other factors. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com. Forward-Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the timing and amount of repurchases of the Company's common shares under its repurchase program, if any, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should” or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 26, 2026, offshore drilling market conditions, including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys and upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, United States (“U.S.”) trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East (including the current conflict in Iran), and any related sanctions, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate-change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC. The foregoing risks and uncertainties are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond our ability to control. In many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260622886176/en/ Contact Information
Kevin Smith
Vice President – Corporate Finance and Investor Relations
ir@seadrill.com Original: Seadrill Extends Share Repurchase Program

Seadrill Announces Pricing of Upsized Private Offering of $700 Million Senior Notes due 2034June 15, 2026 4:08 PM
Business Wire Seadrill Limited (“Seadrill” or the “Company”) (NYSE: SDRL) announced today that Seadrill Finance Limited, an exempted company limited by shares incorporated under the laws of Bermuda and a wholly owned subsidiary of Seadrill (“Seadrill Finance”), has priced its offering (the “Offering”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), of $700 million in aggregate principal amount of 6.750% Senior Notes due 2034 (the “Notes”). The Offering was upsized to $700 million from the original offering size of $600 million. The Notes mature on July 15, 2034 and will be issued at par. The Offering is expected to close on June 30, 2026, subject to customary closing conditions. Seadrill Finance intends to use a portion of the net proceeds from the Offering to redeem all of Seadrill Finance’s outstanding 8.375% Senior Secured Second Lien Notes due 2030 (the "2030 Notes") and satisfy and discharge the indenture governing the 2030 Notes. Seadrill Finance intends to use the remaining net proceeds from the Offering to pay the fees and expenses incurred in connection with the Offering and for general corporate purposes. The information contained in this news release is neither an offer to sell nor a solicitation of an offer to buy the securities described herein or any other securities, nor shall there be any sale of these securities or any other securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful absent registration or an applicable exemption from the registration requirements of the securities laws of any such jurisdiction. The securities being offered have not been registered under the Securities Act, any state securities laws, or any foreign jurisdiction. These securities are being offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act. This news release does not constitute a notice of redemption with respect to the 2030 Notes. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. Forward-Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the expected timing of the closing of the Offering, the use of proceeds therefrom, other aspects of the Offering and the Notes, and the redemption and the satisfaction and discharge of the 2030 Notes, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should” or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 26, 2026, offshore drilling market conditions, including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys and upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, United States (“U.S.”) trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East (including the current conflict in Iran), and any related sanctions, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate-change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC. The foregoing risks and uncertainties are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond our ability to control. In many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260615560602/en/ Kevin Smith
Vice President – Corporate Finance and Investor Relations
ir@seadrill.com Original: Seadrill Announces Pricing of Upsized Private Offering of $700 Million Senior Notes due 2034

Seadrill Announces 2026 Annual General Meeting Voting ResultsJune 3, 2026 6:00 PM
Business Wire Seadrill Limited (NYSE: SDRL) ("Seadrill" or the "Company") today announced the 2026 Annual General Meeting of the Shareholders of the Company was held on June 3, 2026, at the Hamilton Princess Hotel & Beach Club, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2025 were laid before the Meeting. In addition, the following resolutions were passed by shareholders: To determine that the number of Directors comprising the Board of Directors of the Company (the “Board”) be set at up to nine (9) Directors until such number is determined or changed in accordance with the bye-laws of the Company (the “Bye-laws”) and to authorize the Board to fill any vacancy on the Board left unfilled at any general meeting of shareholders. To re-elect, by way of separate resolutions, each of Julie J. Robertson, Jean Cahuzac, Jan Kjærvik, Mark McCollum, Harry Quarls, Andrew Schultz, Paul Smith, Jonathan Swinney and Ana Zambelli as Directors of the Company to serve until the Company’s next annual general meeting of shareholders or until their respective offices are otherwise vacated in accordance with the Bye-laws. To approve the appointment of PricewaterhouseCoopers LLP, United States (“PwC US”), to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 and until the close of the Company’s next annual general meeting of shareholders thereafter and the authorization of the Board (acting through the Audit and Risk Committee of the Board) to determine the remuneration of PwC US. To approve and ratify the remuneration of the Directors. To conduct an advisory vote to approve the compensation of the Company’s named executive officers for 2025. To approve Amendment No. 1 to the Amended and Restated Seadrill Limited 2022 Management Incentive Plan. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For additional information, visit www.seadrill.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260603200751/en/ Kevin Smith
Vice President – Corporate Finance and Investor Relations
ir@seadrill.com Original: Seadrill Announces 2026 Annual General Meeting Voting Results

Seadrill (SDRL) Shares Jump After Earnings Beat and Higher 2026 GuidanceMay 11, 2026 9:59 AM
IH Market News Seadrill Limited (NYSE:SDRL) shares climbed more than 6% in premarket trading on Monday after the offshore drilling contractor reported first-quarter results that topped analyst expectations and raised its outlook for 2026.The company posted a quarterly loss of $0.11 per share, outperforming analyst forecasts for a loss of $0.28 per share. Revenue and EBITDA Beat Expectations First-quarter revenue totaled $358 million, exceeding the consensus estimate of $326.75 million and rising 6.9% from $335 million recorded in the same quarter last year.Seadrill also reported adjusted EBITDA of $97 million for the quarter, compared with $88 million in the previous quarter.Adjusted EBITDA margin, excluding reimbursable revenue, improved to 27.9% from 25.4%.The company recorded a net loss of $7 million during the period.“Seadrill delivered a solid quarter financially and operationally, including the completion of two major projects ahead of schedule and on budget,” said President and CEO Samir Ali. Company Raises Full-Year Outlook Following the stronger quarterly performance and recent contract wins, Seadrill increased its full-year 2026 guidance.The company now expects revenue between $1.43 billion and $1.48 billion, excluding approximately $50 million in reimbursable revenue. This compares with prior guidance of $1.40 billion to $1.45 billion.The midpoint of the updated revenue forecast is broadly in line with analyst expectations of $1.44 billion.Seadrill also raised its adjusted EBITDA outlook to a range of $370 million to $420 million from the previous forecast of $350 million to $400 million. New Contract Awards Expand Backlog Since February, Seadrill has secured more than $860 million in new drilling contracts across the U.S. Gulf, Brazil and Angola.As a result, the company’s total contract backlog has expanded to approximately $3.1 billion.Among the key awards was a three-year extension for the West Polaris rig with Petrobras in Brazil, valued at roughly $480 million.Seadrill also secured contracts for the West Neptune and West Vela rigs with LLOG, a subsidiary of Harbour Energy, adding another $260 million to backlog. Balance Sheet Remains Stable At the end of the quarter, Seadrill held $329 million in cash and cash equivalents, compared with gross debt of $625 million.During the quarter, the company spent $51 million on capital additions and long-term maintenance projects.Seadrill stock price Original: Seadrill (SDRL) Shares Jump After Earnings Beat and Higher 2026 Guidance

Seadrill Announces First Quarter 2026 ResultsMay 11, 2026 1:01 AM
Business Wire Seadrill Limited (“Seadrill” or the “Company”) (NYSE: SDRL) today announced its first quarter 2026 results. Highlights Secured multiple contract awards across the U.S. Gulf, Brazil and Angola, adding over $860 million to Contract Backlog(1) since the February fleet status report. Contract Backlog now stands at $3.1 billion. West Capella and West Jupiter projects completed ahead of schedule and on budget. Reported a net loss of $7 million and Adjusted EBITDA(2) of $97 million. Increased full year 2026 Total operating revenues and Adjusted EBITDA(3) guidance ranges as follows: Total operating revenues range increased to $1.43 - $1.48 billion (previously $1.40 - $1.45 billion), excluding $50 million of reimbursable revenues, Adjusted EBITDA range increased to $370 - $420 million (previously $350 - $400 million). Capital Expenditure and Long-Term Maintenance range maintained at $200 - $240 million. Financial Highlights Figures in USD million, unless otherwise indicated Three months ended March 31, 2026 Three months ended December 31, 2025 Total operating revenues 358   362   Contract revenues 277   273   Net loss (7 ) (10 ) Adjusted EBITDA 97   88   Adjusted EBITDA margin excluding Reimbursables(2) 27.9 % 25.4 % Diluted loss per share ($) (0.11 ) (0.16 ) “Seadrill delivered a solid quarter financially and operationally, including the completion of two major projects ahead of schedule and on budget. These achievements, together with recent commercial success, enhance visibility toward higher earnings and Free Cash Flow(4) in the second half of 2026 and into 2027,” said President and CEO Samir Ali. “Increasing demand for deepwater rigs is supported by multiple customers across multiple regions, and with a renewed global focus on energy security, we see growing tailwinds into 2027 to drive positive dayrate momentum.” Financial and Operational Results First quarter 2026 Total operating revenues decreased to $358 million, compared to $362 million in the prior quarter. The decrease was largely attributable to fewer operating days and lower reimbursable revenues, partially offset by increases in fleet-wide Economic utilization(5) and average contractual dayrates. First quarter 2026 Total operating expenses decreased by $10 million to $334 million, compared to $344 million in the prior quarter, primarily driven by the capitalization of expenses related to the West Jupiter's first quarter contract preparations. Net loss for the first quarter was $7 million. Adjusted EBITDA was $97 million, compared to $88 million in the prior quarter. Balance Sheet and Cash Flow At quarter-end, Seadrill had gross principal debt of $625 million and $329 million in cash, cash equivalents and restricted cash, for a net debt position of $296 million. The use of cash during the first quarter of 2026 included $51 million for capital additions and long-term maintenance, and was impacted by payments for contract preparation activities for West Jupiter and West Capella as well as timing of working capital. Both rigs successfully commenced operations late in the first quarter of 2026, with mobilization revenue relating to West Jupiter and West Capella due to be collected in the second quarter of 2026. Commercial Activity and Contract Backlog West Polaris was awarded a three-year contract extension with Petrobras in Brazil, commencing in January 2028 and adding approximately $480 million to Contract Backlog. West Neptune and West Vela both secured work in the U.S. Gulf with LLOG, a subsidiary of Harbour Energy, adding $260 million to Contract Backlog. West Neptune was awarded a 365 day contract extension, with operations scheduled to commence in October 2026, and West Vela was awarded a program with a duration of 270 days, with an expected commencement in September 2026. Sonangol Quenguela secured a contract extension with TotalEnergies in Angola. The additional term is for an estimated 480 days, committing the rig into July 2028. West Carina extended its current contract in Brazil into June 2026. As of May 11, 2026, Seadrill’s Contract Backlog was approximately $3.1 billion. The Company has provided an updated fleet status report on the Investor Relations section of its website, www.seadrill.com. Conference Call Information The Company will host a conference call to discuss its results on Monday, May 11, 2026 at 08:00 CT / 15:00 CET. Interested participants may join the call by dialing +1 (800) 715-9871 (Conference ID: 2874047) at least 15 minutes prior to the scheduled start time. The Company will webcast the call live on the Investor Relations section of its website, where a replay will be available afterwards. (1) Contract Backlog includes all firm contracts at the contractual operating dayrate multiplied by the number of days remaining in the firm contract period. It includes management contract revenues and leasing revenues from bareboat charter arrangements and excludes revenues for mobilization, demobilization, contract preparation, and other incentive provisions and backlog relating to non-consolidated entities. (2) These are non-GAAP measures. For a definition and a reconciliation to the most comparable GAAP measure, see Appendices. (3) Due to the forward-looking nature of Adjusted EBITDA, management cannot reliably predict certain of the necessary components of the most directly comparable forward-looking GAAP measure, net income. Accordingly, the Company is unable to present a quantitative reconciliation of such forward-looking non-GAAP financial measure to the most directly comparable forward-looking GAAP financial measure without unreasonable effort. The unavailable information could have a significant effect on the Company's full year 2026 GAAP financial results. (4) Free Cash Flow is a non-GAAP measure, calculated as Net cash (used in)/provided by operating activities less Additions to drilling units and equipment. (5) Economic utilization is defined as dayrate revenue earned during the period, excluding bonuses, divided by the contractual operating dayrate, multiplied by the number of days on contract in the period. If a drilling unit earns its full operating dayrate throughout a reporting period, its economic utilization would be 100%. However, there are many situations that give rise to a dayrate being earned that is less than the contractual operating rate, such as planned downtime for maintenance. In such situations, economic utilization reduces below 100%. About Seadrill Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com. Forward-Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the Company’s outlook and guidance, plans, strategies, business prospects, contract awards, financial performance, operations, litigation, rig activity and changes and trends in its business and the markets in which it operates, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms "assumes", "projects", "forecasts", "estimates", "expects", "anticipates", "believes", "plans", "intends", "may", "might", "will", "would", "can", "could", "should" or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, "Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the United States ("U.S.") Securities and Exchange Commission (the “SEC”) on February 26, 2026, offshore drilling market conditions including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys, upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, U.S. trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, our ability to maintain relationships with suppliers, customers, employees and other third parties, our ability to maintain adequate financing to support our business plans, our ability to successfully complete and realize the intended benefits of any mergers, acquisitions and divestitures, and the impact of other strategic transactions, our liquidity and the adequacy of cash flows to satisfy our obligations, future activity under and in respect of the Company’s share repurchase program, our ability to satisfy (or timely cure any noncompliance with) the continued listing requirements of the New York Stock Exchange, the cancellation of drilling contracts currently included in reported contract backlog, losses on impairment of long-lived fixed assets, shipyard, construction and other delays, the results of meetings of our shareholders, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East (including the current conflict in Iran), and any related sanctions, the effect and results of litigation, regulatory matters, settlements, audits, assessments and contingencies, including any litigation related to acquisitions or dispositions, the concentration of our revenues in certain geographical jurisdictions, limitations on insurance coverage, our ability to attract and retain skilled personnel on commercially reasonable terms, the level of expected capital expenditures, our expected financing of such capital expenditures and the timing and cost of completion of capital projects, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, tax assessments and liabilities for tax issues, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC. The foregoing risks and uncertainties are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond our control. In many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to any person(s) acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by securities laws. Investors should note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the Investors section of our website (www.seadrill.com) to communicate with investors, and we intend to post presentations and fleet status reports there, among other things. It is possible that the financial and other information posted there could be deemed to be material information. The information on our website is not part of, and is not incorporated into, this news release. Furthermore, references to our website URLs are intended to be inactive textual references only. SEADRILL LIMITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)       Three months ended March 31, (In $ millions, except per share data)   2026   2025 Operating revenues         Contract revenues   277     248   Reimbursable revenues (1)   10     15   Management contract revenues (1)   63     61   Leasing revenues (1)   8     8   Other revenues   —     3   Total operating revenues   358     335   Operating expenses         Vessel and rig operating expenses   (181 )   (179 ) Reimbursable expenses   (10 )   (15 ) Depreciation and amortization   (71 )   (55 ) Management contract expenses   (46 )   (45 ) Selling, general and administrative expenses   (25 )   (23 ) Merger and integration related expenses   (1 )   —   Total operating expenses   (334 )   (317 ) Operating profit   24     18   Financial and other non-operating items         Interest income   2     4   Interest expense   (15 )   (15 ) Equity in earnings of equity method investments (net of tax)   4     8   Other financial and non-operating items   1     (14 ) Total financial and other non-operating items, net   (8 )   (17 ) Profit before income taxes   16     1   Income tax expense   (23 )   (15 ) Net loss   (7 )   (14 ) Basic LPS ($)   (0.11 )   (0.23 ) Diluted LPS ($)   (0.11 )   (0.23 )   (1) Includes revenue from related parties of $75 million and $79 million, for the three months ended March 31, 2026, and March 31, 2025, respectively. SEADRILL LIMITED CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)   (In $ millions, except share data) March 31,
2026   December 31,
2025 ASSETS       Current assets       Cash and cash equivalents 304   339 Restricted cash 25   26 Accounts receivables, net 214   162 Amounts due from related parties, net 7   — Other current assets 261   231 Total current assets 811   758 Non-current assets       Equity method investment 62   58 Drilling units, net of accumulated depreciation of 754 as of March 31, 2026 (December 31, 2025: 682) 2,950   2,969 Deferred tax assets 29   44 Equipment 15   8 Other non-current assets 125   110 Total non-current assets 3,181   3,189 Total assets 3,992   3,947 LIABILITIES AND SHAREHOLDERS' EQUITY       Current liabilities       Trade accounts payable 80   61 Other current liabilities 337   313 Total current liabilities 417   374 Non-current liabilities       Long-term debt 614   613 Deferred tax liabilities 16   14 Other non-current liabilities 94   88 Total non-current liabilities 724   715 Shareholders' equity       Common shares of par value $0.01 per share: 375,000,000 shares authorized as of March 31, 2026 (December 31, 2025: 375,000,000) and 62,449,447 issued as of March 31, 2026 (December 31, 2025: 62,374,171) 1   1 Additional paid-in capital 1,986   1,986 Accumulated other comprehensive income 1   1 Retained earnings 863   870 Total shareholders' equity 2,851   2,858 Total liabilities and shareholders' equity 3,992   3,947 SEADRILL LIMITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)       Three months ended March 31, (In $ millions)   2026   2025 Cash flows from operating activities         Net loss   (7 )   (14 ) Adjustments to reconcile net loss to net cash used in operating activities:         Depreciation and amortization   71     55   Equity in earnings of equity method investment (net of tax)   (4 )   (8 ) Deferred tax expense   17     3   Unrealized gain on foreign exchange   —     (1 ) Amortization of bond issuance costs   1     1   Share based compensation expense   1     4   Other   —     12   Other cash movements in operating activities         Additions to long-term maintenance   (38 )   (54 ) Changes in operating assets and liabilities         Accounts receivable, net   (52 )   42   Trade accounts payable   11     (35 ) Prepaid expenses   2     (2 ) Deferred revenue   (10 )   (9 ) Deferred contract costs   (35 )   6   Related party receivables   (7 )   —   Other assets   (12 )   (2 ) Other liabilities   40     (25 ) Net cash used in operating activities   (22 )   (27 ) Cash flows from investing activities         Additions to drilling units and equipment   (13 )   (45 ) Other   —     (4 ) Net cash used in investing activities   (13 )   (49 ) Cash flows from financing activities         Taxes withheld on employee stock transactions   (1 )   —   Net cash used in financing activities   (1 )   —   Effect of exchange rate changes on cash   —     1   Net decrease in cash and cash equivalents, including restricted cash   (36 )   (75 ) Cash and cash equivalents, including restricted cash, at beginning of the period   365     505 Cash and cash equivalents, including restricted cash, at the end of period 329 430 Appendix I - Reconciliation of Net loss to Adjusted EBITDA (Unaudited) Adjusted EBITDA represents Net loss before depreciation and amortization, loss on impairment of long-lived assets, gain on disposals, income tax expense/benefit, total financial and non-operating items, other income and similar non-cash charges. Additionally, in any given period, the Company may have significant, unusual or non-recurring items which may be excluded from Adjusted EBITDA for that period. When applicable, these items are fully disclosed and incorporated into the reconciliation provided below. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of Total operating revenues. Adjusted EBITDA excluding Reimbursables, represents Adjusted EBITDA, excluding Reimbursable revenues and Reimbursable expenses. Adjusted EBITDA Margin excluding Reimbursables represents Adjusted EBITDA excluding Reimbursables as a percentage of Total operating revenues excluding Reimbursable revenues. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA excluding Reimbursables and Adjusted EBITDA Margin excluding Reimbursables are non-GAAP financial measures. The Company believes that the aforementioned non-GAAP financial measures assist investors by excluding the potentially disparate effects between periods of depreciation and amortization, income tax expense/benefit, total financial items and non-operating items, merger and integration related expenses, loss on impairment of long-lived assets, gain on disposals and other adjustments specified, which are affected by various and possibly changing financing methods, capital structure and historical cost basis and which may significantly affect Net loss between periods. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA excluding Reimbursables and Adjusted EBITDA Margin excluding Reimbursables should not be considered as alternatives to Net loss or any other indicator of Seadrill Limited’s performance calculated in accordance with GAAP. Because the definitions of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA excluding Reimbursables and Adjusted EBITDA Margin excluding Reimbursables (or similar measures) may vary among companies and industries, they may not be comparable to other similarly titled measures used by other companies. The tables below reconcile Net loss, the most directly comparable GAAP measure, to Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA excluding Reimbursables and Adjusted EBITDA Margin excluding Reimbursables. (In $ millions, unless otherwise indicated) Three months ended March 31, 2026   Three months ended December 31, 2025 Net loss (a) (7 )   (10 ) Depreciation and amortization 71     69   Loss on impairment of long-lived assets —     22   Gain on disposals —     (1 ) Income tax expense/(benefit) 23     (29 ) Total financial and other non-operating items, net 8     36   Merger and integration related expenses 1     1   Other adjustments (1) 1     —   Adjusted EBITDA (b) 97     88   Total operating revenues (c) 358     362   Net loss margin (a)/(c) (2.0 )%   (2.8 )% Adjusted EBITDA margin (b)/(c) 27.1 %   24.3 % (In $ millions, unless otherwise indicated) Three months ended March 31, 2026   Three months ended December 31, 2025 Adjusted EBITDA (b) 97     88   Reimbursable revenues (10 )   (16 ) Reimbursable expenses 10     16   Adjusted EBITDA excluding Reimbursables (d) 97     88   Total operating revenues (c) 358     362   Reimbursable revenues (10 )   (16 ) Total operating revenues excluding Reimbursable revenues (e) 348     346   Adjusted EBITDA margin excluding Reimbursables (d)/(e) 27.9 %   25.4 %   (1) Primarily related to executive management separation costs. Appendix II - Contract Revenues Supporting Information (Unaudited)(1)   Three months ended March 31, 2026   Three months ended December 31, 2025 Average number of rigs on contract(2) 9     10   Average contractual dayrates(3) (in $ thousands) 343     319   Economic utilization(4) 94.6 %   91.0 %   (1) Excludes three drillships managed on behalf of Sonadrill (West Gemini, Sonangol Quenguela, Sonangol Libongos). (2) The average number of rigs on contract is calculated by dividing the aggregate days the Company's rigs were on contract during the reporting period by the number of days in that reporting period. (3) The average contractual dayrate is calculated by dividing the aggregate contractual dayrates during a reporting period by the aggregate number of days for the reporting period. (4) Economic utilization is defined as dayrate revenue earned during the period, excluding bonuses, divided by the contractual operating dayrate, multiplied by the number of days on contract in the period. If a drilling unit earns its full operating dayrate throughout a reporting period, its economic utilization would be 100%. However, there are many situations that give rise to a dayrate being earned that is less than the contractual operating rate, such as planned downtime for maintenance. In such situations, economic utilization reduces below 100%. Appendix III - Reconciliation of Net cash used in operating activities to Free Cash Flow (Unaudited) The Company also presents Free Cash Flow as a non-GAAP liquidity measure. Free Cash Flow is calculated as Net cash used in operating activities less Additions to drilling units and equipment. The Company believes Free Cash Flow is useful to investors, as it allows greater transparency of the utilization or generation of cash by the business. Because the definition of Free Cash Flow may vary among companies and industries, it may not be comparable to other similarly titled measures used by other companies. The table below reconciles Net cash used in operating activities, the most directly comparable GAAP measure, to Free Cash Flow for the three months ended March 31, 2026 and December 31, 2025. Three months ended March 31, 2026   Three months ended December 31, 2025 (In $ millions) Net cash used in operating activities (22 )   (40 ) Additions to drilling units and equipment (13 )   (23 ) Free Cash Flow (35 )   (63 )   View source version on businesswire.com: https://www.businesswire.com/news/home/20260510391490/en/ Kevin Smith
VP - Corporate Finance & IR
ir@seadrill.com Original: Seadrill Announces First Quarter 2026 Results

Seadrill Announces U.S. Gulf Contract Awards for West Neptune and West VelaApril 22, 2026 6:00 AM
Business Wire
Seadrill Limited (NYSE: SDRL) today announced two contract awards with LLOG Exploration Company LLC, a subsidiary of Harbour Energy in the U.S. Gulf, adding approximately $260 million to contract backlog.


The ultra-deepwater drillship West Neptune was awarded a 365 day contract extension, with operations scheduled to commence in September 2026. In addition, the ultra-deepwater drillship West Vela was awarded a program with a duration of 270 days, with an expected commencement in August 2026.


“We are pleased to extend our working relationship with LLOG, building on more than a decade of productive collaboration and shared success. The strong operational performance delivered by the West Vela and West Neptune teams continues to help us win follow-on work,” said President and Chief Executive Officer Samir Ali. “Securing this backlog enhances revenue visibility and supports free cash flow generation as we navigate near-term softness in the U.S. Gulf. The West Vela and West Neptune are positioned favorably for availability in 2027 as global floater utilization is expected to improve.”


About Seadrill


Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.


Forward-Looking Statements


This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the Company’s plans, strategies, business prospects, financial performance, operations, and rig activity, including with respect to backlog and contract commencement dates and durations, and changes and trends in its business and the markets in which it operates, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should” or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.


Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 26, 2026, offshore drilling market conditions, including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys and upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, United States (“U.S.”) trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East, and any related sanctions, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate-change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC.


The foregoing risks and uncertainties are beyond our ability to control, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law.


Investors should note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the Investors section of our website (www.seadrill.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on our website is not part of, and is not incorporated into, this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422052359/en/
Kevin Smith

Vice President – Corporate Finance and Investor Relations

ir@seadrill.com


Original: Seadrill Announces U.S. Gulf Contract Awards for West Neptune and West Vela

Seadrill Schedules First Quarter 2026 Earnings Release and Conference CallApril 16, 2026 4:05 PM
Business Wire
Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) will report its first quarter 2026 results on Monday, May 11, prior to the NYSE opening for trading. The Company will host a conference call to discuss at 08:00 CT / 15:00 CET on the same day.


Interested participants may join the call by dialing +1 (800) 715-9871 (Conference ID: 2874047) at least 15 minutes prior to the scheduled start time. The Company will webcast the call live on the Investor Relations section of its website, where a replay will be available afterwards.


About Seadrill

Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416042195/en/
Kevin Smith

Vice President – Corporate Finance and Investor Relations

ir@seadrill.com


Original: Seadrill Schedules First Quarter 2026 Earnings Release and Conference Call

Seadrill Announces West Polaris Contract Extension in BrazilApril 6, 2026 6:00 AM
Business Wire
Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced the ultra-deepwater drillship, West Polaris, was awarded a 1,095-day contract extension with Petrobras for the Búzios field in the Santos Basin, offshore Brazil.


The additional term adds approximately $480 million in contract backlog and is expected to commence in direct continuation of the current program in January 2028.


Additionally, the current contracted dayrate has been updated as follows:



April 1, 2026 through March 31, 2027 - $409,200



April 1, 2027 through January 15, 2028 - $454,700



Seadrill’s President and Chief Executive Officer, Samir Ali, commented, "This award enhances Seadrill’s earnings visibility for a mature asset into the next decade. It provides significant value to both Seadrill and Petrobras, while strengthening our relationship with a valued, long-term partner.”


About Seadrill


Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.


Forward-Looking Statements


This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the Company’s plans, strategies, business prospects, financial performance, operations, and rig activity, including with respect to backlog and contract commencement dates and durations, and changes and trends in its business and the markets in which it operates, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should” or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.


Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 26, 2026, offshore drilling market conditions, including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys and upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, United States (“U.S.”) trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East, and any related sanctions, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate-change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC.


The foregoing risks and uncertainties are beyond our ability to control, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law.


Investors should note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the Investors section of our website (www.seadrill.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on our website is not part of, and is not incorporated into, this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260406320690/en/
Kevin Smith

Vice President – Corporate Finance and Investor Relations

ir@seadrill.com


Original: Seadrill Announces West Polaris Contract Extension in Brazil

Seadrill Announces Contract Extension in AngolaMarch 16, 2026 5:30 PM
Business Wire
Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced Sonadrill Holding Ltd ("Sonadrill"), its 50:50 joint venture with an affiliate of Sonangol E.P. ("Sonangol"), has been awarded a contract extension.


A seven-well priced option for the ultra-deepwater drillship Sonangol Quenguela has been exercised, extending operations in Angola by approximately 480 days and committing the rig into June 2028.


Seadrill earns a management fee for providing management, operational and technical support to Sonadrill.


About Seadrill

Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.


Forward-Looking Statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the Company’s plans, strategies, business prospects, financial performance, operations, and rig activity, including with respect to backlog and contract commencement dates and durations, and changes and trends in its business and the markets in which it operates, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should” or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.


Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 26, 2026, offshore drilling market conditions, including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys and upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, United States (“U.S.”) trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East, and any related sanctions, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate-change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC.


The foregoing risks and uncertainties are beyond our ability to control, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law.


Investors should note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the Investors section of our website (www.seadrill.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on our website is not part of, and is not incorporated into, this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260316634574/en/
Kevin Smith

Vice President – Corporate Finance and Investor Relations

ir@seadrill.com


Original: Seadrill Announces Contract Extension in Angola

Seadrill Announces West Saturn Contract ExtensionJanuary 30, 2026 6:00 AM
Business Wire
Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) today announced Equinor Brasil Energia Ltda has exercised a one-year priced option for the ultra-deepwater drillship West Saturn. The exercised option adds $114 million to contract backlog and extends the original contract, which commenced in 2022, through October 2027.


Seadrill’s President and Chief Executive Officer, Simon Johnson, commented, “The continuation of the contract into a sixth consecutive year reinforces our long-term collaboration with Equinor in Brazil, where we have a shared commitment to delivering safe and reliable offshore operations in a strategically important basin”.


About Seadrill


Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.


Forward-Looking Statements


This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including, without limitation, those regarding the Company’s plans, strategies, business prospects, financial performance, operations, and rig activity, including with respect to backlog and contract commencement dates and durations, and changes and trends in its business and the markets in which it operates, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms “assumes”, “projects”, “forecasts”, “estimates”, “expects”, “anticipates”, “believes”, “plans”, “intends”, “may”, “might”, “will”, “would”, “can”, “could”, “should” or, in each case, their negative, or other variations or comparable terminology. These statements are based on management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.


Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 27, 2025, offshore drilling market conditions, including supply and demand, dayrates, customer drilling programs and effects of new or reactivated rigs on the market, contract awards and rig mobilizations, contract backlog, dry-docking and other costs of maintenance, special periodic surveys and upgrades and regulatory work for the drilling units in the Company’s fleet, the performance of the drilling units in the Company’s fleet, delay in payment or disputes with customers, the Company’s ability to successfully employ its drilling units, procure or have access to financing, ability to comply with loan covenants, fluctuations in the international price of oil, international financial market conditions, United States (“U.S.”) trade policy and tariffs and worldwide reactions thereto, inflation, changes in governmental regulations that affect the Company or the operations of the Company’s fleet, increased competition in the offshore drilling industry, the review of competition authorities, the impact of global economic conditions and global health threats, pandemics and epidemics, political and other uncertainties, including those related to the conflicts in Ukraine and the Middle East, and any related sanctions, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or U.S. monetary policy, tax matters, changes in tax laws, treaties and regulations, legal and regulatory matters in the jurisdictions in which we operate, customs and environmental matters, the potential impacts on our business resulting from decarbonization and emissions legislation and regulations, the impact on our business from climate-change generally, the occurrence of cybersecurity incidents, attacks or other breaches to our information technology systems, including our rig operating systems, and other important factors described from time to time in the reports filed or furnished by us with the SEC.


The foregoing risks and uncertainties are beyond our ability to control, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law.


Investors should note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the Investors section of our website (www.seadrill.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on our website is not part of, and is not incorporated into, this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260130688109/en/
Kevin Smith

Vice President – Corporate Finance and Investor Relations

ir@seadrill.com


Original: Seadrill Announces West Saturn Contract Extension

Seadrill Schedules Fourth Quarter 2025 Earnings Release and Conference CallJanuary 27, 2026 9:15 PM
Business Wire
Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) will report its fourth quarter 2025 results on Wednesday, February 25, after the NYSE closes for trading. The Company will host a conference call to discuss its results on Thursday, February 26, at 08:00 CT / 15:00 CET.


Interested participants may join the call by dialing +1 (800) 715-9871 (Conference ID: 7275294) at least 15 minutes prior to the scheduled start time. The Company will webcast the call live on the Investor Relations section of its website, where a replay will be available afterwards.


About Seadrill


Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260127070769/en/
Kevin Smith

Vice President – Corporate Finance and Investor Relations

ir@seadrill.com


Original: Seadrill Schedules Fourth Quarter 2025 Earnings Release and Conference Call

Yes I have something to share. I lost a bunch of $ a few years ago with their bankruptcy. I don't know who's running the show but I wouldn't touch this thing, at all. I'm surprised they're still operating.

I believe they have 26 rigs now.



Take a look >> https://www.seadrill.com/fleet/rig-portfolio/



$SDRL making a strong comeback from bankruptcy...watch it soar on these earnings/disclosures:



https://www.seadrill.com/application/files/4816/9207/5721/Seadrill_6-K_2023_Q2.pdf

High Growth Action:

$94 million net income Q2 2023 vs $43 million net income Q1 2023
EPS Q2 2023 $1.16 vs EPS $0.81 Q1 2023

Cash $412 million
Total Assets $4 billion
Total Liabilities $958 million

Stockholders Equity $3 billion



I project EPS for the year @ $4.50 (it's $2 EPS first 2 quarters)
Slap a conservative P/E Ratio of 20 on it = $90 price per share
Currently $47.87 (10% gain = ~$52 pps, 20% gain = ~$57 pps, 30% gain = ~$62 pps)

Looks like a good bet to me, trying for 20% likely 30% if it trades the way I believe it will.

This is a day trade for me but may leave a kicker long...looks like a good long term investment. JMO

SDRLF: Bankruptcy Plan Effective Shares Cancelled/Distribution

Shares will be mandatorily exchanged at a rate of 0.00124521 into New Seadrill Common Stock.

https://otce.finra.org/otce/dailyList?viewType=Deletions

https://finance.yahoo.com/news/seadrill-finance-limited-renamed-paratus-000600054.html

If so then there’s still time for a buy.

I love BK companies that sell off assets to stay alive. Proof of them acting in best intrest of shareholders during turbulence

It is my understanding that the court approved it's debt restructuring and that SDRLF should be set to exit BK this month. At least that I is what I have read.

https://www.reuters.com/legal/transactional/seadrill-nets-court-approval-cut-debt-exit-bankruptcy-2021-10-26/

This is a steal.

Not to mention a highly speculative trade.
But the risk reward cannot be ignored.

If the company does what they are intending then we’re going to see something ridiculous in terms of PPS.

This might be another huge winner post bankruptcy.

Anybody got something to share about the bankruptcy?

Please and thanks

On watch

So Chap 11?

Is this BK play?

??????????news ??????

https://finance.yahoo.com/news/15-largest-drilling-companies-world-212148550.html

Let it be known:

SDRLF is projected to have a 1y target price of $3.00 dollars. Crude oil is set to exceed $50 dollars per barrel in 2021 by q4. OPEC says Demand for oil & drilling is set to increase by 2 million barrels per day on top of the industry wide 25.6 million barrel a day quota for q1 of 2021 according to the EIA. EIA also forecasts that global consumption of petroleum that averaged 92.9 million b/d in 2020 will average 98.8 million b/d in 2021. Their current assets are still in the billions (so is their liabilities), but a good q1 will likely (which is likely) will push this stock back to where it should be. The P/B value of this stock indicates that is is extremely undervalued at the price of 0.31 p/share (p/b: 0.08). I am optimistic for a 2021 oil recovery, dont lose hope in this one its one of the largest drilling companies in the world. As oil prices go up drilling companies stock will go up with it. BULLISH IN OIL.

Does this company still exist, or are they going under/ bankrupt ?

Here we go
Seadrill Limited (SDRL.OL)
Oslo - Oslo Delayed Price. Currency in NOK
2.6000+0.5560 (+27.20%)

2.60NOK = 0.280659USD

HAMILTON, Bermuda, Sept. 15, 2020 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (OSE: SDRL) (OTCQX: SDRLF) announces its acquisition of the minority holding of 33.76% of the share capital of Asia Offshore Drilling Limited ("AOD").

The consideration for the shares in AOD is USD 31,000,000, and it is expected that completion of the share transfer and payment of the consideration will occur by the end of September 2020. Following completion, Seadrill will, through its subsidiary Seadrill Rig Holding Company Limited, hold 100% of the shares in AOD.

Seadrill Limited (SDRL.OL)
Oslo - Oslo Delayed Price. Currency in NOK
2.92+0.76 (+35.1852%)
1NOK = 0.110608USD
= 0.324 dollar.

SDRL changed to SDRLF. Delisted from the NYSE to the OTC.:

https://otce.finra.org/otce/dailyList?viewType=Additions

* * $SDRL Video Chart 06-08-2020 * *

Link to Video - click here to watch the technical chart video

Just a poster like you. Best of luck to you I'm afraid you're going to need it. 1st BK shareholder took a beating. Remember Seadrill's main business has been deepwater drilling and it's in bad trouble.

Who are you again? That's so funny cause just recently I've warned about Valspar when I bought it at .29/pps. Now it's up to .93/pps!! Don't listen to anybody but myself. Thanks I do my own DD and I always advise people to do the same.

Be Very Careful Of Seadrill paints a bleak picture for the rig sector
02 Jun 2020 12:09 (+01:00 GMT)
London, 2 June (Argus) — Rig operator Seadrill today painted a bleak picture for the drilling sector, which it said is characterised by "too many rigs carrying too much debt".

The Bermuda-based firm said the severity of capital expenditure (capex) cuts by upstream firms will lead to a reduction in exploration programmes and delays in the sanctioning of development programmes, and as a consequence a fall in rates and utilisation for drill rigs. It said this will be felt in the onshore and offshore sectors alike.

Half of Seadrill's fleet was idle as of the end of March, and it said that a number of its rigs "are increasingly unlikely to return to the market and need to be scrapped." To this end it took an impairment charge of $1.2bn in the first quarter of this year.

The firm, which came out of Chapter 11 bankruptcy proceedings two years ago, said there are "substantial doubts" about its ability to continue as a going concern. A process to renegotiate the high level of cash outflow required to service Seadrill's debt with 43 lenders has stalled because of uncertainty arising from low oil prices and the Covid-19 pandemic, although it said its $1.2bn of cash in hand should provide a cushion to allow for a restructuring. It plans to delist from the New York Stock Exchange in the coming months, but will retain a listing in Oslo.

Seadrill made a $1.56bn loss in the first quarter, compared with a $295mn loss a year earlier.

By Ben Winkley

Beware MONEY NEWSJUNE 2, 2020 / 10:17 AM / 5 DAYS AGO
Seadrill warns on future after taking $1.2 billion write-off
Nerijus Adomaitis
2 MIN READ

OSLO (Reuters) - Seadrill announced a writedown of $1.2 billion on the value of its oil drilling rigs on Tuesday and warned its survival hinges on converting parts of its $7.4 billion in debt into equity, sending its shares tumbling.

The company plans to cut 1,400 jobs and lower costs by $130 million over the next 18 months, Chief Financial Officer Stuart Jackson told a conference call.

“Until such time that an agreement is reached to restructure our borrowing commitments, substantial doubt remains over (the) ability to continue as a going concern,” Seadrill said in its first-quarter earnings report on Tuesday.

Seadrill’s Oslo-listed shares traded 15% lower at 1427 GMT and are down more than 80% year-to-date.

Controlled by Norwegian-born shipping tycoon John Fredriksen, the company struggled even before the COVID-19 pandemic as low oil prices curbed demand for rigs.

ADVERTISEMENT


Seadrill is hiring bankers and lawyers to overhaul its finances later this year, although it did not name the advisors.

“This industry has two fundamental challenges which are emphasised by recent events - there are too many rigs carrying too much debt,” CEO Anton Dibowitz said. “We recognise, along with others in the sector, that a number of our assets are increasingly unlikely to return to the market and need to be scrapped.”

ADVERTISEMENT


Seadrill’s impairment charge assumed that up to 10 of its 35 drilling rigs may be scrapped and the company hopes 50 floating rigs will eventually be removed from the global market, Dibowitz said.

Following the impairment, the company reported a net loss of $1.57 billion for the first quarter versus a loss of $295 million a year earlier.

The company on Monday announced its intention to delist from the New York Stock Exchange this month while maintaining an Oslo listing.

June 3, 2020 Seadrill Q1 revenue was down 19% at $321 million with a lower proportion of reimbursable revenues.
Seadrill
SEADRILL Technical utilization was 95%
Highlights:

Topics: SEADRILL

Technical utilization of 95% and economic utilization of 93%.

Operating Loss of $1,284 million after making material asset impairments.

Adjusted EBITDA of $55 million, representing 17.1% margin.

Net loss attributable to shareholder of $1,564 million equivalent to net loss per share of $15.59.

During the quarter we added $77 million in backlog, maintaining a total backlog figure of $2.5 billion.

Closing cash of $1.2 billion.

Seadrill announces its intention to delist from the New York Stock Exchange (NYSE).

On March 26, 2020, Seadrill received written notice from the NYSE that it was not in compliance with the NYSE continued listing standard with respect to the minimum average share price required, because the average closing price of its common shares had fallen below $1.00 per share over a period of 30 consecutive trading days. On April 8, 2020, the Company provided the required notice to the NYSE, in which the Company stated its intent to seek a cure of its non compliance with the NYSE continued listing standard at that time

Coronavirus company news summary – Seadrill reports $1.56bn net loss – US LNG exports slips to 13-month low
SHARE
3 June

Deepwater drilling contractor Seadrill has reported a net loss attributable to shareholder of $1.56bn in the first quarter as the company continues to combat the challenges arising due to the Covid-19 pandemic. The company has also appointed advisors to assess restructuring alternatives to reduce debt.

US LNG exports have fallen to a 13-month low as the Covid-19 pandemic triggered a global fall in demand according to Reuters who cited the fall in the amount of gas flowing to LNG export plants. In recent weeks, LNG prices crashed due to oversupplies.

Oilfield firm ProPetro Holding estimated that there are 20 hydraulic fracturing fleets operating in the Permian Basin. This is significant fall from 172 running in the US field a year ago, reported Reuters. It comes after several oil and gas companies trimmed spending following Covid-19 pandemic.

Seadrill says another bankruptcy is an option - WSJ
Jun. 3, 2020 2:44 PM ET|About: Seadrill Limited (SDRL)|By: Carl Surran, SA News Editor
Seadrill (SDRL -8.2%) tells WSJ that Chapter 11 bankruptcy is on the table, a day after CFO Stuart Jackson said the downturn due to the coronavirus and the Saudi-Russian oil price had forced the company to abandon what was an "interim solution" to its debt woes and focus on a comprehensive restructuring.

"We are considering all options at this stage, of which Chapter 11 is one," a Seadrill spokesman says, adding the restructuring situation is still fluid. "We anticipate this to take place over the coming year, but it is too early to say for certain."

On yesterday's conference call, Jackson said the company believes it has sufficient liquidity to manage its business as well as the restructuring process.

"From an investment perspective, we've also written down the value of our Seadrill Partners holding to zero, as we expect this entity will move into a comprehensive restructuring of its balance sheets in the coming future," Jackson said.

Nah! No Chap 7. They have over a $billion revenue. May be a takeover in process.

Charter 7 BK could be coming, BP is not renewing contracts in the Gulf of Mexico for two drillships, that have been carrying the company with their high day-rate. Not sure they will survive.

This is the best of all:

Oh really Mr Smarty pants a Billionier invest 510 million and he's gonna let it plummet back down to 2 sure ya okay.

What a genius.

“The difference between stupidity and genius is that genius has its limits”, Albert Einstein.

What an investment!

Wow ur sooo brilliant I bought at 1.51 so top that buddy boi.

This stoppid dog rolled over on his back side and peed all over himself believing in this POS. Who is loading, besides the CEO?


Sorry so old and wise man, you are correct u have it all figured out. It's the same as the sliver deal in the 70's gimme a freakin break aren't we jumping to some major conclusions. I got some great conspiracy theories you can help chase down Mister Ventura, like maybe you can help us find out if the moon is really real??? Whatever the case is, if the price is being propped up till oil comes back that's a good play. I don't believe oil will stay at these levels it never does with so much that effects the price such as OPEC, tensions in the Middle East etc…stick to the movies buddy, maybe hit the DVD player grab some pop corn and go get Geeked out on Enemy of the State!

SDRL Shares Outstanding
100,235,000

Float
72,810,303

Insider Ownership
27.48%

Insitutional Ownership
37.61%

$SDRL Daily Chart..BB's starting to squeeze tighter here signalling a nice move up might be underway soon

6-Month Chart

Looking more like a bottom here $SDRL

Watch SeaDrill Closely!! Once this is back to $1 and holds above for a week, we could see a much larger jump follow.

IMO: Key to maximizing profits is getting in low during this double bottom, before oil prices go back up.

What is going to happen with SeaDrill today? Watching closely as volume picks up

* * $SDRL Video Chart 04-09-2020 * *

Link to Video - click here to watch the technical chart video

I remember being bent over by SDRL so many times it was unfair. Do they only rip off investors?

O.73 and UP Big time.

Whose buying VALUE town now?