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It has been a week of changes for Seadrill Limited

Rig Lynx
  • By Rig Lynx
  • May 31, 2021
  • Category : Archives
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It has been a week of changes for Seadrill Limited after they announced their first quarter financial update on May 20th.

 

Seadrill Limited announced on the 20th that their backlog was sitting at $2.1 billion and included updates for contracts in regard to the West Tellus, West Hercules, West Saturn and the West Neptune.

 

May 27th, just 7 days after their financial and operational update Svein Harald Øygard was added to their board of directors. Mr. Øygard has a long history in the Norwegian financial, government and energy sector.

 

Glen Ole Rødland, Chairman commented: “We are delighted to welcome Svein Harald to Seadrill’s board. His expertise in the oil and gas sector, alongside his directorship and board committee experience, complement a board and management dedicated to further developing Seadrill’s position as the sector’s leading offshore driller.”

 

Grant Creed was also brought onboard as CFO replacing Leif Nelson, Leif has since been moved up to COO replacing Reid Warriner. Leif held the previous role of CFO but moved over to manage capital restructuring and then onto CTO.
 

Reid Warriner, Chief Operating Officer, has taken the decision to step down and will support the company in delivering a smooth handover of activities in the coming months. Leif Nelson, Seadrill’s current Chief Technology Officer will now also serve as the Chief Operating Officer. Having previously been Chief Operating Officer of Seadrill for a number of years, Leif will ensure a smooth continuation of safe and efficient operations. 

 

Stuart Jackson, CEO of Seadrill, said: “Grant has a breadth of experience and extensive expertise in capital market transactions, mergers and acquisitions and driving efficiencies that will be key for the future of Seadrill. His appointment positions the company strategically for the future as we prepare to take the next steps in our financial restructuring, which will see Seadrill solidify its position as a leading provider of offshore drilling services.

 

“I would like to thank Reid for his service and wish him every success for the future as I welcome Leif back into the role of Chief Operating Officer. The breadth and depth of Leif’s experience in our industry, coupled with a proven track record of delivering safe and efficient operations for our customers will be key to our future success.”

 

May 31st Seadrill added that Glen Ole Rødland has notified them that he will be stepping down from the Board with immediate effect, having been Chairman since November 2019.

 

Source: Seadrill

 

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