Seadrill (SDRL) Secures New Contracts Worth $97.5 Million

Contract Awards and Extensions - Seadrill Limited announced multiple contract awards and a contract extension for its West Vela and West Capella drillships worth a total of $97.5 million [1] - The West Vela drillship secured a contract with Talos Production in the U.S. Gulf of Mexico valued at approximately $73.5 million, with an estimated duration of 150 days starting in Q3 2024 [1] - The West Capella drillship has a one-well option exercised by Vantage Holdings worth around $24 million, extending operations by approximately two months [2] Drillship Specifications - The West Vela is a seventh-generation ultra-deepwater dual-activity drillship with a maximum drilling capacity of 37,500 feet and operational depth of 12,000 feet [1] - The West Capella is a sixth-generation ultra-deepwater dual-activity drillship with a maximum drilling depth of 37,500 feet and operational depth of 10,000 feet [2] Management Resumption - Seadrill is set to resume management of the West Auriga drillship in Q1 2024, following its release by Diamond Offshore in February 2024, allowing for contract preparations with Petrobras [3] - The resumption will enable Seadrill to achieve synergies from its acquisition of Aquadrill in 2023 [3]