Seadrill Expands Backlog With New Rig Contracts in US Gulf & Angola

Core Insights - Seadrill Limited (SDRL) has secured multiple contracts for its drillships, enhancing its backlog and customer relationships [1][9] Contract Details - The West Neptune drillship has a four-month contract with LLOG Exploration in the Gulf of America, adding approximately $48 million to Seadrill's backlog [2] - The Sevan Louisiana drillship has been contracted for two months by an undisclosed operator in the Gulf of America, marking the first deployment of Trendsetter's well-intervention equipment in the region [3] - The Sonangol Quenguela drillship in Angola has had its operations extended by five months, allowing it to remain active until February 2027 [4] Operational Strategy - Seadrill's ability to secure contracts in direct continuation of existing ones helps avoid idle time between contracts, thereby building a strong contract backlog into 2027 and ensuring future revenue visibility [5]