Seadrill issued their 4th quarter 2019 results yesterday which full report an be read here but below were are comments from the CEO, Anton Dibowitz:
“We close 2019 maintaining our strong operating track record, adding in excess of $1bn to backlog during the quarter and making continued progress in our ESG focus. I am particularly pleased that we finished 2019 with an improved rating of Seadrill’s activities by the independently assessed Carbon Disclosure Project and that we achieved a world first in respect of DNV Battery (Power) class notation on the West Mira.
We have seen a broad-based market recovery through 2019, led by the harsh environment segment, followed by the high specification jack-up and the benign environment ultra-deepwater segments. The pace of the recovery has slowed as we enter 2020, however we expect to see continued improvement as the year progresses. Â
Our first bank maturities do not fall due until Q2 2022, however we took the initiative to engage in a dialogue with our banks at an early stage to address capital structure challenges relative to current trading conditions. We have been engaged in a productive dialogue with the lead banks throughout the fourth quarter and into 2020 and we expect to provide a fuller update at the appropriate time.â€
Source: Seadrill
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