Offshore oil drilling contractor Seadrill expects the market for its rigs to remain depressed until late 2021, the Oslo-listed firm said on Friday as it continued talks with creditors over a debt restructuring.
Seadrill, controlled by Norwegian-born billionaire John Fredriksen, in September suspended interest payments after failing to agree with lenders on amending terms for its $5.7 billion bank debt, and warned that restructuring could wipe out its equity.
Source: Reuters
