Seadrill Limited (SDRL) 🛢

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Seadrill Limited (SDRL): AOD Cash Utilisation

Hamilton, Bermuda, December 16, 2020 – The Board of Seadrill Limited (“Seadrill” or the “Company”) (OSE: SDRL, OTCQX:SDRLF) has been informed that the lenders in the AOD facility (under which Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited are borrowers) have utilised $97.2 million of AOD’s cash contained in restricted accounts secured against their facility to repay a corresponding amount of the $210 million debt outstanding as of today. This leaves $112.8 million of such debt outstanding going forward. The AOD facility maintains sufficient cash to support AOD’s operations and this event will have no impact to continued operations.

The face value of the net debt on the balance sheet remains unchanged as a result of this action and Seadrill maintains its strong liquidity position as it progresses in discussions with the broader group of lenders. The Company’s cash balance remains sufficient to manage liquidity requirements through a formal restructuring process. At the close of third quarter 2020, Seadrill had a total cash balance of $851m including the cash in the AOD companies.
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The Company continues constructive dialogue with its lenders and maintains its readiness to carry out a comprehensive restructuring of its balance sheet which may involve the use of a court-supervised process. It is expected that potential solutions will lead to significant equitization of debt which is likely to result in minimal or no recovery for current shareholders.

For further information, please contact:

Media questions should be directed to:
Iain Cracknell Director of Communications +44 7765 221 812

Analyst questions should be direct to:
Hawthorn Advisors seadrill@hawthornadvisors.com +44 (0) 203 7454960

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

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Seadrill Limited (SDRL): Chief Operating Officer and Chief Technology Officer appointments

Hamilton, Bermuda, December 17, 2020 – The Board of Seadrill Limited (“Seadrill” or “the Company”) (OSE: SDRL, OTCQX:SDRLF) is pleased to announce the appointment of Reid Warriner as Chief Operating Officer and Leif Neilson as Chief Technology Officer, effective immediately.

These senior management changes build upon the significant contributions Reid and Leif have already delivered in their previous roles at Seadrill.
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As Chief Operating Officer, Reid Warriner will oversee daily operational delivery for Seadrill’s customers across the Harsh Environment, Jack-Up and Floater Operating Units. In this role, Reid will drive to achieve the highest safety standards whilst enhancing the operational performance of our long-term fleet and scrapping assets which will no longer have a role to play.

As Chief Technology Officer, Leif Nelson will focus on the future development of our fleet. In this regard Leif will continue the development of our innovation pipeline with the adoption of new technologies which will deliver more efficient and safer operational capabilities whilst reducing Seadrill and our clients’ environmental footprint.

Stuart Jackson, Chief Executive Officer, commented:

“As Seadrill navigates a difficult market, we will seek ways to differentiate our capabilities, not just through operational efficiency but also with respect to the application of technology. I am delighted that Reid and Leif are taking on these roles, both focused very much on delivering for our customers – today and tomorrow.”

For further information, please contact:

Media questions should be directed to:
Iain Cracknell Director of Communications +44 7765 221 812

Analyst questions should be direct to:
Hawthorn Advisors seadrill@hawthornadvisors.com +44 (0) 203 7454960

Biographies

Leif Nelson

Leif has served as Chief Operating Officer since July 2015 and been with Seadrill since 2011. He has over 23 years’ experience in the drilling industry.

Prior to joining Seadrill, Leif held various operational positions around the world for Transocean. Leif is on the Executive Committee for the International Association of Drilling Contractors.

He holds a BSc in Petroleum Engineering from the Colorado School of Mines.

Reid Warriner

Reid has served as Senior Vice President since January 2019. Reid has over 25 years of experience in the oil and gas industry.

Prior to Seadrill Reid held the position of President, OilSERV Drilling Group. Before that he worked for Schlumberger for over 15 years where he held various senior line management and functional positions around the world.

He holds a BSc in Engineering from the University of Calgary, Canada.

Kilde

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SDRL - Seadrill Announces Forbearance Agreement

Hamilton, Bermuda, 30 December 2020 –Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that it has entered into a forbearance agreement with certain creditors in respect of nine out of the group’s twelve senior secured credit facility agreements.

The purpose of the forbearance agreement is to allow the Company and its stakeholders more time to finalise negotiations on the head terms of a comprehensive restructuring of its balance sheet. Such a restructuring may involve the use of a court-supervised process. The Company continues to evaluate capital structure proposals from its financial stakeholders; whilst no agreement has been reached at this point it is expected that potential solutions will lead to significant equitization of debt which is likely to result in minimal or no recovery for current shareholders.
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Pursuant to the forbearance agreement, the consenting creditors have agreed not to exercise any voting rights to, or otherwise take actions, in respect of certain events of default that may arise under those senior secured credit facility agreements as a result of the group not making certain interest payments, until and including the earlier of 29 January 2021 and any termination of the forbearance agreement.

Forbearance has not yet been agreed with respect to certain events of default or termination events that may arise under the three remaining senior secured credit agreements, the Company’s New Secured Notes, leasing arrangements for the West Hercules, West Linus and West Taurus and a bilateral guarantee facility with Danske Bank. Without a forbearance in respect of these arrangements, a non-payment of interest or other amounts due under the senior secured credit agreements, the Company’s New Secured Notes and/or the leasing arrangements could result in the creditors under these arrangements having the right to accelerate or otherwise enforce their rights under them.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Media questions should be directed to:
Iain Cracknell
Director of Communications
+44 (0)7765 221 812

Analyst questions should be directed to:
Hawthorn Advisors
seadrill@hawthornadvisors.com
+44 (0)203 7454960

Kilde

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Seadrill New Finance Limited - non-payment of cash interest

Hamilton, Bermuda, January 15, 2021 (OSE:SDRL, OTCQX:SDRLF)

Seadrill New Finance Limited, a company incorporated in Bermuda in 2018 and
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issuer of the 12.0% senior secured notes due 2025 (the “Notes”), has determined
not to make the semi-annual 4% cash interest payment due to the senior secured
noteholders on 15 January 2021 in respect of their Notes issued pursuant to the
terms of the notes indenture dated 2 July 2018. The payment-in-kind (PIK)
interest payment is being made in the ordinary course.

Discussions continue between Seadrill Limited and its creditors and/or their
advisers to finalise negotiations on the head terms of a comprehensive
restructuring of its balance sheet. Such a restructuring may involve the use of
a court-supervised process.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company’s plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management’s current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company’s regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

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Major holdings disclosure notification

Please see the attached major holdings notification for Seadrill, Ltd on behalf of Charles Schwab Investment Management, Inc.

See attachment on www.newsweb.no
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Kilde

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SDRL - Seadrill Announces Expiry of Forbearance Agreements

Hamilton, Bermuda, 29 January 2021 – Reference is made to the announcements by Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) on 30 December 2020 regarding forbearance agreements entered into by the Company with certain creditors in respect of the group’s senior secured credit facility agreements.

The term of the forbearance agreements expired on 29 January 2021, and, accordingly, the creditors with whom forbearance agreements were entered into are no longer prevented from taking actions in respect of events of default that may arise under the senior secured credit facility agreements as a result of the group not making interest payments under the group’s senior secured credit agreements.
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The Company continues to maintain its readiness to carry out a comprehensive restructuring of its balance sheet. Such a restructuring may involve the use of a court-supervised process. The Company continues to engage in constructive discussions in relation to potential further forbearances and to finalise the heads of terms of a comprehensive restructuring of its balance sheet; whilst no agreement has been reached at this point it is expected that potential solutions will lead to significant equitization of debt which is likely to result in minimal or no recovery for current shareholders.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Media questions should be directed to:
Iain Cracknell
Director of Communications
+44 (0)7765 221 812

Analyst questions should be directed to:
Hawthorn Advisors
seadrill@hawthornadvisors.com
+44 (0)203 7454960

Kilde

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SDRL - Seadrill Announces Forbearance Agreements

Hamilton, Bermuda, 3 February 2021 - Seadrill Limited (“Seadrill” or the
“Company”) (OSE:SDRL, OTCQX:SDRLF) announces that it has entered into a
forbearance agreement with certain creditors in respect of nine out of the
…

Vis børsmeldingen

group’s twelve senior secured credit facility agreements.

The purpose of the forbearance agreement is to allow the Company and its
stakeholders more time to finalise negotiations on the head terms of a
comprehensive restructuring of its balance sheet. Such a restructuring may
involve the use of a court-supervised process. The Company continues to evaluate
capital structure proposals from its financial stakeholders; whilst no agreement
has been reached at this point it is expected that potential solutions will lead
to significant equitization of debt which is likely to result in minimal or no
recovery for current shareholders.

Pursuant to the forbearance agreement, the consenting creditors have agreed not
to exercise any voting rights to, or otherwise take actions, in respect of
certain events of default that may arise under those senior secured credit
facility agreements as a result of the group not making certain interest
payments, until and including the earlier of 15 February 2021 and any
termination of the forbearance agreement.

Forbearance has not yet been agreed with respect to certain events of default or
termination events that may arise under the three remaining senior secured
credit agreements, the Company’s New Secured Notes, leasing arrangements for the
West Hercules, West Linus and West Taurus and a bilateral guarantee facility
with Danske Bank. Without a forbearance in respect of these arrangements, a non
-payment of interest or other amounts due under the senior secured credit
agreements, the Company’s New Secured Notes and/or the leasing arrangements
could result in the creditors under these arrangements having the right to
accelerate or otherwise enforce their rights under them.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company’s plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management’s current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company’s regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Media questions should be directed to:

Iain Cracknell

Director of Communications

+44 (0)7765 221 812

Analyst questions should be directed to:

Hawthorn Advisors

seadrill@hawthornadvisors.com

+44 (0)203 7454960

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

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SDRL - Seadrill Announces Forbearance Agreement

Hamilton, Bermuda, 3 February 2021 - Seadrill Limited (“Seadrill” or the
“Company”) (OSE:SDRL, OTCQX:SDRLF) announces that it has entered into a
forbearance agreement with certain creditors in respect of nine out of the
…

Vis børsmeldingen

group’s twelve senior secured credit facility agreements.

The purpose of the forbearance agreement is to allow the Company and its
stakeholders more time to finalise negotiations on the head terms of a
comprehensive restructuring of its balance sheet. Such a restructuring may
involve the use of a court-supervised process. The Company continues to evaluate
capital structure proposals from its financial stakeholders; whilst no agreement
has been reached at this point it is expected that potential solutions will lead
to significant equitization of debt which is likely to result in minimal or no
recovery for current shareholders.

Pursuant to the forbearance agreement, the consenting creditors have agreed not
to exercise any voting rights to, or otherwise take actions, in respect of
certain events of default that may arise under those senior secured credit
facility agreements as a result of the group not making certain interest
payments, until and including the earlier of 15 February 2021 and any
termination of the forbearance agreement.

Forbearance has not yet been agreed with respect to certain events of default or
termination events that may arise under the three remaining senior secured
credit agreements, the Company’s New Secured Notes, leasing arrangements for the
West Hercules, West Linus and West Taurus and a bilateral guarantee facility
with Danske Bank. Without a forbearance in respect of these arrangements, a non
-payment of interest or other amounts due under the senior secured credit
agreements, the Company’s New Secured Notes and/or the leasing arrangements
could result in the creditors under these arrangements having the right to
accelerate or otherwise enforce their rights under them.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company’s plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management’s current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company’s regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

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Seadrill Limited (SDRL): Asia Offshore Drilling Chapter 11 Filing

Hamilton, Bermuda, February 7, 2021 – The Board of Seadrill Limited (“Seadrill” or the “Company”) (OSE: SDRL, OTCQX:SDRLF) today announces that Chapter 11 cases have been filed in the Southern District of Texas in respect of Seadrill’s wholly-owned subsidiaries Seadrill GCC Operations Ltd, Asia Offshore Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited (jointly, the “AOD Companies”).

The Chapter 11 cases were filed as a protective measure to support Seadrill’s broader comprehensive financial restructuring and will in no way affect the safe and efficient operation of the AOD offshore drilling units. The Company will request authority to pay its key trade creditors and employee wages and benefits without change or interruption and expects it will pay all suppliers and vendors in full under normal terms for goods and services provided during the Chapter 11 cases.
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As a consequence of the Chapter 11 filings, the forbearance agreement announced by the Company on 3 February 2021 in respect of nine out of the group’s twelve senior secured credit facility agreements has terminated.

This press release is not intended to be, and should not in any way be construed as, a solicitation of votes of stakeholders regarding the Chapter 11 proceedings in respect of the AOD Companies.

Further information about the Chapter 11 filing will be available at www.seadrill.com/restructuring.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

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Seadrill Limited (SDRL): Filing of Chapter 11 Cases for Seadrill

Hamilton, Bermuda, February 10, 2021 – The Board of Seadrill Limited (“Seadrill” or the “Company”) (OSE: SDRL, OTCQX:SDRLF) today announces that Chapter 11 cases have been filed in the Southern District of Texas in respect of Seadrill and its consolidated subsidiaries (the “Seadrill Group”) with the exceptions set out below.

These filings are made in addition to the Chapter 11 cases filed separately for Seadrill GCC Operations Ltd, Asia Offshore Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited, as announced by the Company on February 7, 2021. The Chapter 11 filings do not include Seadrill New Finance Limited and its subsidiaries; Seabras Servicos de Petroleo SA, Seadrill JU Newco Bermuda Limited, Seadrill Member LLC, Seadrill Mobile Units UK Limited, Seadrill Partners LLC Holdco Limited, Seadrill Seabras SP UK Limited, Seadrill Seabras UK Limited, Seadrill Seadragon UK Limited, Seadrill SeaMex 2 de Mexico S de RL de CV, Seadrill SeaMex SC Holdco Limited, Seadrill SKR Holdco Limited, Sevan Drilling Rig VI AS, and Sevan Drilling Rig VI Pte Ltd.
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As part of the Chapter 11 cases, Seadrill filed “first day” motions that, when granted, will enable day-to-day operations of the Seadrill Group to continue as usual. Specifically, Seadrill has requested the authority to pay key trade creditors and employee wages and benefits without change or interruption and expects it will pay all suppliers and vendors in full under normal terms for goods and services provided during the Chapter 11 cases. At the point of filing, Seadrill has approximately $650m in cash and does not require debtor-in-possession financing.

The Chapter 11 cases are opened to facilitate a balance sheet restructuring which will enable Seadrill to continue to operate its modern fleet of drilling units. It is expected that this will lead to significant equitization of debt which is likely to result in minimal or no recovery for current shareholders. As a consequence of the Chapter 11 cases, Seadrill will submit an application to the Bermuda Supreme Court for the appointment of Joint Provisional Liquidators under Bermuda law to oversee the Chapter 11 cases in conjunction with the Board of Directors of the Company.

Commenting today, Stuart Jackson, CEO of Seadrill, said:

"This announcement marks the start of the court supervised process that will create a company that is financially sustainable for the long term. We are working closely with our stakeholders to ensure we achieve an outcome that gives us the flexibility to weather the low points in our industry cycles, whilst positioning us well for market recovery.

I would like to thank all our stakeholders for their continued support as we move through this legal process, in particular, our customers, vendors and employees, all of whom demonstrate continued support of our safe and efficient operational delivery."

This press release is not intended to be, and should not in any way be construed as, a solicitation of votes of stakeholders regarding the Chapter 11 proceedings.

The Company has engaged Kirkland & Ellis LLP as legal counsel, Houlihan Lokey, Inc. as financial advisor, and Alvarez & Marsal as restructuring advisor. Slaughter and May has been engaged as corporate counsel. Advokatfirmaet Thommessen AS is serving as Norwegian counsel. Conyers Dill & Pearman is serving as Bermuda counsel.

Further information about the Chapter 11 filing will be available at www.seadrill.com/restructuring.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

[pleximus83]

…Da var vi allerede i runde 2.

[zappa66]

Verdt å merke seg:
It is expected that this will lead to significant equitization of debt which is likely to result in minimal or no recovery for current shareholders.

[rayman]

Morgen dagens vinner på børs denne da

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Seadrill New Finance Limited Announces Forbearance Agreement

Hamilton, Bermuda, February 11, 2021 - Seadrill Limited (“Seadrill” or the
“Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited
(the “Issuer”), a subsidiary of the Company incorporated in Bermuda in 2018 and
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issuer of the 12.0% senior secured notes due 2025 (the “Notes”), has entered
into a forbearance agreement with certain holders of the Notes.

Pursuant to the forbearance agreement, the consenting creditors have agreed not
to exercise any enforcement rights with respect to the Issuer and any subsidiary
of the Issuer which is an obligor under the Notes to, or otherwise take actions
in respect of, certain events of default that may arise under the Notes as a
result of, amongst other things, the Issuer not making the semi-annual 4% cash
interest payment due to the senior secured noteholders on 15 January 2021 in
respect of their Notes and the filing of Chapter 11 cases in the Southern
District of Texas by the Company and certain of its consolidated subsidiaries
(excluding the Issuer and its consolidated subsidiaries), until and including
the earlier of 24 February 2021 and any termination of the forbearance
agreement.

The purpose of the forbearance agreement is to allow the Company, the Issuer and
its stakeholders (including the forbearing holders) time to seek to agree the
terms of a restructuring of the Notes in parallel with the commencement by the
Company and certain of its consolidated subsidiaries of their Chapter 11 cases.
Such a restructuring may involve the use of a court-supervised process.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company’s plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management’s current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company’s regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

[TekBot]

SDRL - Seadrill New Finance Limited Announces Extension of Forbearance Agreement

Hamilton, Bermuda, February 23, 2021 - Seadrill Limited (“Seadrill” or the
“Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited
(the “Issuer”), a subsidiary of the Company, has agreed to extend the existing
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forbearance agreement announced on 11 February 2021 with respect to the 12.0%
senior secured notes due 2025 (the “Notes”) with certain holders of the Notes
(the “Note Holders”).

Pursuant to the forbearance agreement, as extended, the consenting Note Holders
have agreed not to exercise any enforcement rights with respect to the Issuer
and any subsidiary of the Issuer which is an obligor under the Notes to, or
otherwise take actions in respect of, certain events of default that may arise
under the Notes as a result of, amongst other things, the Issuer not making the
semi-annual 4% cash interest payment due to the senior secured noteholders on 15
January 2021 in respect of their Notes and the filing of Chapter 11 cases in the
Southern District of Texas by the Company and certain of its consolidated
subsidiaries (excluding the Issuer and its consolidated subsidiaries) until and
including the earlier of 10 March 2021 and any termination of the forbearance
agreement.

The purpose of the forbearance agreement is to allow the Issuer and its
stakeholders more time to negotiate on the heads of terms of a comprehensive
restructuring of its balance sheet. Such a restructuring may involve the use of
a court-supervised process.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company’s plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management’s current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company’s regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Media questions should be directed to:

Iain Cracknell

Director of Communications

+44 (0)7765 221 812

Analyst questions should be directed to:

Hawthorn Advisors

seadrill@hawthornadvisors.com

+44 (0)203 7454960

seadrill@hawthornadvisors.com

020 3745 4960

Kilde

[TekBot]

Seadrill Limited (SDRL) - Second Half 2020 Results

Hamilton, Bermuda, March 4, 2021 - Seadrill Limited (“Seadrill” or “the Company”) (OSE:SDRL, OTCQX:SDRLF), a world leader in offshore drilling, announces a commercial update for the fourth quarter of 2020 and provides financial results for the six-month period ended December 31, 2020.

Highlights
…

Vis børsmeldingen

• Technical utilization1 of 96% and economic utilization2 of 94%.
• Total backlog stands at $1.9 billion with approximately $50 million added during the quarter.
• Cash and cash equivalents as at December 31, 2020 of $723 million of which $526 million was unrestricted.
• Non-cash impairment of $2.9 billion.
• $0.5 billion non-cash gain arising on the deconsolidation of certain subsidiaries of SFL Corporation Limited.

Financial Highlights
Figures in USD million, unless otherwise indicated 2H20 1H20 %Change
Total Operating Revenue 461 598 (23)%
Adjusted EBITDA 10 90 (89)%
Adjusted EBITDA Margin (%) 2.2 15.1 (85)%
Operating Loss (3,110) (1,372) (127)%
Net loss (2,915) (1,748) (67)%
Net Loss attributable to shareholder (2,912) (1,747) (67)%
Net Loss per Share (29.02) (17.40) (67)%

Subsequent Events

• On February 7, 2021 certain of the Company’s wholly owned subsidiaries filed for bankruptcy protection under Chapter 11 and on February 10, 2021, the Company and certain of the Company’s consolidated subsidiaries filed for Chapter 11 bankruptcy protection in the United States. We would expect the eventual outcome of this process to lead to a significant reduction or elimination of current shareholder positions.

Stuart Jackson, CEO, commented:

"Our 2nd half 2020 results reflect the impact of executing backlog contracted during tough market conditions. As a consequence, we have also taken significant impairments on our assets as the likelihood of scrapping more assets increases. Whilst addressing the asset side of our balance sheet we have also taken action on the liabilities side and filed certain companies for Chapter 11 protection within the US Bankruptcy Code. The Chapter 11 process will run for many months as we seek solutions with our different creditor groups. However, I feel confident that we will find a suitable resolution which will see a financially more robust Seadrill continue delivering safe, efficient operations for our customers.”

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1 Technical utilization is calculated as the total hours available for work, excluding planned maintenance, divided by the total number of hours in the period.
2 Economic utilization is calculated as total revenue, excluding bonuses, for the period as a proportion of the full operating dayrate multiplied by the number of days on contract in the period.

Kilde

[E24Bot]

Ny milliardsmell for Seadrill

Seadrill tapte nær 25 milliarder i siste halvår i fjor

[E24Bot]

Seadrill tapte nær 25 milliarder i siste halvår i fjor

Seadrill tapte nær 25 milliarder i siste halvår i fjor

[tverilytt]

– Her er det bare å vente og se. Det spennende er hvor mye bankene tar i tap og hvor mye gjeld som blir igjen til slutt, sier analytiker Magnus Olsvik i Kepler Cheuvreux.

Brenner cash på rigger i opplag

[E24Bot]

Hvilken fremtid har Seadrill?

Hvilken fremtid har Seadrill?