SDRL - Seadrill Limited Announces Fourth Quarter 2018 Results

GlobeNewswire
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In this article:


Highlights

  • Revenue of $292 million

  • Operating loss of $69 million

  • Adjusted EBITDA of $73 million

  • 96% economic utilization

  • Reported net loss of $360 million and net loss per share of $3.62

  • Total cash of $2 billion

  • Seadrill Limited order backlog of approximately $2 billion

  • Added $89 million in backlog since our last earnings report in November

Anton Dibowitz, CEO, commented: "The offshore drilling market continues to show signs of improvement with increased tendering activity and better contract economics. We expect more activity in 2019 to lead to a tighter supply demand balance and improved pricing in 2020 as the recovery progresses.
We are delighted to have entered into a Joint Venture with Sonangol to manage and operate four rigs focused on the Angolan market. This relationship provides us with access to a market that is expected to show significant growth over the next five years as well as an opportunity to continue expanding our fleet of premium ultra-deepwater rigs.
We remain focused on continued cost reduction and disciplined use of capital including the terms on which we will contract our premium fleet." This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Seadrill Limited 4Q 2018
Seadrill Limited Fleet Status 4Q 2018


This announcement is distributed by West Corporation on behalf of West Corporation clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via GlobeNewswire
HUG#2236416

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