Hamilton, Bermuda, June 25, 2024 - Seadrill Limited (“Seadrill” or the “Company”) (NYSE & OSE: SDRL) initiated a share repurchase program on December 14, 2023 to repurchase up to $250 million of the Company’s common shares in open market transactions on the OSE and NYSE until no later than September 30, 2024 pursuant to an agreement with Fearnley Securities AS and its subsidiary, Fearnley Securities, Inc. (“Fearnley”).
For the period from and including December 14, 2023 through the last day of the repurchase program, June 25, 2024, the Company purchased a total of 5,250,707 shares at an average price of $47.61 per share, equal to a total of $249,999,743. As a result, Seadrill hereby announces that the share repurchase program initiated in December 2023 has been completed.
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For the last period pursuant to the program from and including June 17 through June 25, 2024, Seadrill purchased a total of 240,645 shares at an average price of $48.89 per share. The transactions effected through the agreement with Fearnley comprise all the transactions effected by or on behalf of Seadrill during the period.
Transaction Overview
Date Trading Venue Volume Weighted Average Share Price (USD) Total Daily Transaction Value (USD)
17-Jun-24 OSE 3,000 47.71 143,116
17-Jun-24 NYSE 37,247 48.99 1,824,693
18-Jun-24 OSE 2,252 48.79 109,885
18-Jun-24 NYSE 36,498 49.44 1,804,476
19-Jun-24 OSE 2,163 48.77 105,485
20-Jun-24 OSE 3,019 48.96 147,819
20-Jun-24 NYSE 36,220 48.77 1,766,305
21-Jun-24 OSE 2,842 48.38 137,503
21-Jun-24 NYSE 37,458 48.44 1,814,286
24-Jun-24 OSE 2,068 48.62 100,550
24-Jun-24 NYSE 39,957 49.01 1,958,472
25-Jun-24 OSE 4,266 48.47 206,777
25-Jun-24 NYSE 33,655 48.88 1,645,137
Period Total OSE 19,610 48.50 951,135
NYSE 221,035 48.92 10,813,369
Total 240,645 48.89 11,764,504
Previously Disclosed Buybacks Under the Program (Accumulated) OSE 583,076 46.90 27,344,919
NYSE 4,426,986 47.64 210,890,321
Total 5,010,062 47.55 238,235,239
Program Total OSE 602,686 46.95 28,296,054
NYSE 4,648,021 47.70 221,703,689
Total 5,250,707 47.61 249,999,743
The issuer’s holding of repurchased shares: 5,250,707
Following the completion of the above transactions, the Company had repurchased a total of 5,250,707 shares, corresponding to 7.09% of the Company’s total issued share count.
Appendix:
An overview of all transactions made under the Company’s repurchase program and its agreement with Fearnley that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Contact Information
Lydia Brantley Mabry
Director of Investor Relations
ir@seadrill.com
About Seadrill Limited
Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies. For further information, visit www.seadrill.com.
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