Tagged SDRL

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Seadrill Emerges from Chapter 11

Hamilton, Bermuda, July 2, 2018 – Seadrill Limited (“Seadrill” or the “Company“) announces today (the “Effective Date“) that it has emerged from chapter 11 after successfully completing its reorganization pursuant to its chapter 11 plan of reorganization (the “Plan“). All conditions precedent to the restructuring contemplated by the Plan have been satisfied or otherwise waived. The Plan…

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Seadrill Files Chapter 11

Hamilton, Bermuda, September 12, 2017 – Seadrill Limited (“Seadrill” or the “Company”) has entered into a restructuring agreement with more than 97 percent of its secured bank lenders, approximately 40 percent of its bondholders and a consortium of investors led by its largest shareholder, Hemen Holding Ltd. The agreement delivers $1.06 billion of new capital comprised…

Seadrill Ltd Contemplating Spinoff

SDRL – Contemplated share issue in new subsidiary Hamilton, Bermuda, February 15, 2011– The Board of Directors of Seadrill Limited (“Seadrill”) have decided to create a new drilling company focusing entirely on harsh environment operations. To achieve that Seadrill will spin off its operations in the North Atlantic Basin into a new subsidiary, the North…