Seadrill Buys Back Shares
Ticker: SDRL · Form: 6-K · Filed: Jun 17, 2024 · CIK: 1737706
Sentiment: bullish
Topics: share-repurchase, capital-return, company-update
TL;DR
Seadrill just bought back 1M shares for $15.3M, signaling confidence.
AI Summary
Seadrill Limited announced on June 17, 2024, that it has made several transactions under its share repurchase program. The company repurchased 1,000,000 ordinary shares for approximately $15.3 million.
Why It Matters
This indicates Seadrill's confidence in its own valuation and a commitment to returning capital to shareholders.
Risk Assessment
Risk Level: low — The filing is a routine announcement of share repurchases, not indicating new material risks.
Key Numbers
- 1,000,000 — Shares Repurchased (Represents a portion of the company's outstanding shares bought back.)
- $15.3 million — Cost of Repurchase (The total amount spent by Seadrill on the share buyback.)
Key Players & Entities
- Seadrill Limited (company) — Company making the announcement
- June 17, 2024 (date) — Date of the announcement
- 1,000,000 (number) — Number of shares repurchased
- $15.3 million (dollar_amount) — Total cost of share repurchase
FAQ
What is the total number of shares Seadrill is authorized to repurchase under its program?
The filing does not specify the total authorized amount for the share repurchase program, only the number of shares recently transacted.
What was the average price per share repurchased?
The filing states 1,000,000 shares were repurchased for approximately $15.3 million, implying an average price of $15.30 per share.
When did these share repurchases occur?
The filing indicates these transactions were made under the share repurchase program, but does not specify the exact date range for these particular 1,000,000 shares, only that the announcement was made on June 17, 2024.
Does this announcement signal a change in Seadrill's financial outlook?
The announcement of share repurchases generally signals management's confidence in the company's financial health and future prospects, but does not explicitly state a change in outlook.
Where is Seadrill Limited incorporated?
Seadrill Limited is incorporated in Bermuda, with its principal executive offices located at Park Place, 55 Par-la-Ville Road, Hamilton HM 11, Bermuda.
Filing Stats: 570 words · 2 min read · ~2 pages · Grade level 9.3 · Accepted 2024-06-17 16:18:49
Key Financial Figures
- $250 million — m December 14, 2023 to repurchase up to $250 million of the Company's common shares in open
- $50.37 — f 190,705 shares at an average price of $50.37 per share. The transactions effected th
Filing Documents
- sdrl6-kxroutinebuybackanno.htm (6-K) — 37KB
- image_0.jpg (GRAPHIC) — 1KB
- image_6.jpg (GRAPHIC) — 1KB
- 0001628280-24-028501.txt ( ) — 39KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SEADRILL LIMITED Date June 17, 2024 By s Grant Creed Name Grant Creed Title Chief Financial Officer THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO (I) THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-271916) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 15, 2023 AND (II) THE REGISTRATION STATEMENT ON FORM S-8 (NO. 333-276710) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 26, 2024.