Seadrill(US:SDRL)2020-03-02 05:06Financial Performance - Q4 2019 adjusted EBITDA was $39 million, a decrease compared to $85 million in Q3 2019 [4, 6] - Revenue increased by 8% from $367 million in Q3 2019 to $398 million in Q4 2019, primarily driven by increased reimbursable costs for Northern Drilling [6] - Economic utilization was 93% [4] - Net loss was $(199) million in Q4 2019, compared to $(521) million in Q3 2019 [9] Commercial Activities - The company secured $1 billion in backlog during Q4 2019 [4, 5] - Active fleet 2020 contract coverage of 77% [4] - Average new fixture dayrates for the fleet increased by 45% year over year [4] Associated Companies - Joint ventures and drilling investments resulted in a loss of $(17) million in Q4 2019, compared to $(33) million in Q3 2019 [7] - Investments in Well services & land/platform drilling delivered $23 million EBITDA in the quarter [8] - 95% utilization delivering $77 million EBITDA in the quarter [7]