SDRL Bids Farewell to 2007-Built West Prospero, Optimizes Rig Fleet

Core Insights - Seadrill Limited (SDRL) has sold its non-core asset, the West Prospero jack-up rig, for $45 million, which aligns with its strategy to optimize its rig fleet and improve financial position [2][6]. Company Overview - Seadrill is a U.S.-based offshore drilling contractor with a total backlog of$2.3 billion as of November 2024 [3]. - The West Prospero rig, constructed in 2007, has been non-operational for eight years and was previously used in offshore operations in Northeast Africa and Southeast Asia [6][7]. Industry Context - TechnipFMC plc, Oceaneering International, and Nine Energy Service are highlighted as better-ranked stocks in the energy sector, with TechnipFMC holding a Zacks Rank 1 (Strong Buy) and the other two holding a Zacks Rank 2 (Buy) [4]. - TechnipFMC's total backlog reached $14.7 million in Q3 2024, reflecting an 11.1% increase year-over-year, indicating strong revenue growth potential [9]. - Nine Energy Service operates in key U.S. basins and is expected to benefit from sustained demand for oil and gas, positioning the company for long-term growth [10].