Seadrill Limited (SDRL) , a U.S.-based offshore drilling contractor, has concluded the sale of its jack-up rig, West Prospero. The company received cash proceeds of $45 million following the sale. SDRL stated that the West Prospero drilling rig has been non-operational for eight years.The company considered the West Prospero jack-up rig as a non-core asset. The divestment of West Prospero aligns with the company’s broader objective to withdraw from the benign jack-up market and optimize its rig fleet. The m ...

Seadrill Limited (SDRL) Contracts and Market Position - Seadrill Limited secured a contract from Petrobras for its West Tellus drillship to work on the Sépia and Atapu fields in the Santos Basin, Brazil [1] - The West Tellus contract has a duration of 1,095 days and is expected to contribute approximately $498 million to the company's order backlog, excluding a $41 million mobilization fee [8] - Seadrill also secured a contract for its West Jupiter drillship with Petrobras, valued at $493 million over 1,095 days, excluding a $31.5 million mobilization fee [9] - The new contracts add approximately $1 billion to Seadrill's order backlog, potentially boosting earnings and free cash flow in 2026 [5] - Seadrill operates six drillships in Brazil, positioning the company strongly in the deepwater market with long-term contracts ensuring steady earnings [10] Energy Sector and Competitors - TechnipFMC plc (FTI) and Oceaneering International (OII) hold a Zacks Rank 1 (Strong Buy), while Nine Energy Service (NINE) holds a Zacks Rank 2 (Buy) [6] - Nine Energy Service provides onshore completion and production services across key basins in the US and Canada, with anticipated growth due to sustained demand for oil and gas [7] - Oceaneering International delivers integrated technology solutions for the offshore oilfield lifecycle, supporting steady revenue growth through client retention and new business opportunities [11] - TechnipFMC's total backlog reached $14.7 million in Q3 2024, an 11.1% increase year-over-year, indicating strong revenue growth prospects [12] Industry Outlook - The offshore drilling market remains resilient, with Seadrill's contracts highlighting the continued demand for deepwater drilling services [1][5][10] - Companies like Nine Energy Service and Oceaneering International are well-positioned to benefit from the ongoing demand for oil and gas services [7][11]

Seadrill Ltd. (SDRL) , an offshore drilling contractor, is preparing for its upcoming assignment with Petrobras offshore Brazil, scheduled to begin in the fourth quarter of 2024. The West Auriga and West Polaris drillships have rejoined the company’s fleet and are undergoing the final preparations, including inspections and maintenance, ahead of their campaign in Brazil. Prior to this, the drillships were supervised by third-party managers.Details of the DrillshipsThe West Auriga is a seventh-generation ult ...

Start Time: 09:00 January 1, 0000 9:43 AM ET Seadrill Limited (NYSE:SDRL) Q3 2024 Earnings Call November 13, 2024, 09:00 AM ET Company Participants Simon Johnson - President and CEO Grant Creed - EVP and CFO Samir Ali - EVP and CCO Lydia Mabry - Director of IR Conference Call Participants David Smith - Pickering Energy Partners Kurt Hallead - Benchmark Fredrik Stene - Clarksons Securities Hamed Khorsand - BWS Financial Josh Jayne - Daniel Energy Partners Noel Parks - Tuohy Brothers Investment Research Opera ...

Seadrill (SDRL) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $1.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 880%. A quarter ago, it was expected that this offshore drilling services provider would post earnings of $0.58 per share when it actually produced earnings of $0.59, delivering a surprise of 1.72%.Over the last four quar ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Seadrill (SDRL) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on November 12, 2024, might help the stock move higher if these key numbers are better than exp ...

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or ...

Michael Saint Maur Sheil/DigitalVision via Getty Images The core idea of our thesis on Seadrill (NYSE:SDRL), as we recently wrote in this article, is as follows: 1. Growing oil demand and electric vehicle hiccups will support oil prices, which will drive exploration and production ("E&P") 2. Peaking Permian Basin output will increase demand for offshore projects 3. Supply-constrained offshore rig market, exacerbated by high newbuilding prices and reactivation costs Following the 2Q24 earnings release, h ...

Seadrill Limited (NYSE:SDRL) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET Company Participants Lydia Mabry - Director of IR Simon Johnson - President and CEO Grant Creed - EVP and CFO Samir Ali - EVP and Chief Commercial Officer Marcel Wieggers - SVP of Operations Conference Call Participants Scott Gruber - Citi Ben Nolan - Stifel Fredrik Stene - Clarkson Securities Hamed Khorsand - BWS Financial Greg Lewis - BTIG Noel Parks - Tuohy Brothers Josh Jayne - Daniel Energy Partners Operator Thank ...

Anastasia Yakovleva Investment Thesis We believe that dayrates will increase thanks to robust demand for offshore rigs and supply constraints. Consequently, we expect sequential increases in realized dayrates for Seadrill (NYSE:SDRL) starting in the 4Q24, as older contracts will have rolled off. We estimate SDRL's fair value at $79 per share (base case), assuming the stock will trade at 8x EV/EBITDA. Investment risks include lower oil demand due to decarbonization measures in the long run and out-of-ser ...