Seadrill Limited (SDRL) – Third quarter 2019 results Hamilton, Bermuda, November 21, 2019 – Seadrill Limited (“Seadrill†or “the Companyâ€) (NYSE:SDRL, OSE:SDRL), a world leader in offshore drilling, announces its third quarter results for the period ended September 30, 2019.
Highlights
- Lower economic utilization of 93%1 primarily due to the West Linus 5-year classing
- Revenue up 14% at $367 million with increasing reimbursable revenues and more operating days
- Operating Loss of $58 million
- Adjusted EBITDA2 of $85 million, ahead of $70-75 million guidance • $302 million non-cash impairment in investments relating to Seadrill Partners
- Net loss of $521 million equivalent to net loss per share of $5.21
- Total cash of $1.4 billion, slightly below the second quarter balance
- Order backlog of $1.8 billion as at September 30, 2019
Source: Seadrill
Check out our other current stories!
