Seadrill Extends Share Repurchase Program by $100M
Ticker: SDRL · Form: 6-K · Filed: Jun 26, 2024 · CIK: 1737706
Sentiment: bullish
Topics: share-repurchase, capital-return, company-update
Related Tickers: SDRL
TL;DR
Seadrill is buying back another $100M in stock, signaling confidence.
AI Summary
Seadrill Limited announced on June 25, 2024, the initiation of an extension to its previously announced share repurchase program. This program allows the company to buy back up to an additional $100 million of its common shares.
Why It Matters
This move signals Seadrill's confidence in its financial position and its commitment to returning value to shareholders through share buybacks.
Risk Assessment
Risk Level: low — The filing is a routine update on a share repurchase program, not indicating new significant risks.
Key Numbers
- $100 million — Share Repurchase Program Extension (Additional amount authorized for share buybacks)
Key Players & Entities
- Seadrill Limited (company) — Registrant
- SDRL (company) — Ticker Symbol
- $100 million (dollar_amount) — Share repurchase program amount
- June 25, 2024 (date) — Announcement date
FAQ
What is the total authorized amount for Seadrill's share repurchase program after this extension?
The filing does not specify the total authorized amount, only that an additional $100 million has been initiated for the extension.
When was the original share repurchase program announced?
The filing does not state the date of the original announcement, only that this is an extension.
What is the duration of the extended share repurchase program?
The filing does not specify the duration of the extended program.
On which stock exchanges is Seadrill Limited listed?
Seadrill Limited is listed on the NYSE and OSE.
What is the purpose of initiating an extension to the share repurchase program?
The purpose is to allow the company to buy back up to an additional $100 million of its common shares, signaling confidence and commitment to shareholder value.
Filing Stats: 1,074 words · 4 min read · ~4 pages · Grade level 15 · Accepted 2024-06-25 19:34:14
Key Financial Figures
- $250 million — lder returns. The Company completed the $250 million share repurchase program initiated in D
- $500 million — y's Board of Directors authorized a new $500 million share repurchase program that will run
- $200 million — uthorized the Company to purchase up to $200 million of the Company's common shares (the "Fi
- $200 m — s under the First Tranche are capped at $200 million, with individual caps of $200 mil
- $100 million — $200 million under the 10b5-1 plan and $100 million under the discretionary plan. The Compa
Filing Documents
- sdrl-form6xkxseadrilliniti.htm (6-K) — 19KB
- image_0.jpg (GRAPHIC) — 1KB
- image_6.jpg (GRAPHIC) — 1KB
- 0001628280-24-029954.txt ( ) — 22KB
Forward-Looking Statements
Forward-Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release, including those regarding the timing and amount of repurchases of the Company's common shares under its repurchase program, are forward-looking statements. These forward-looking statements can often, but not necessarily, be identified by the use of forward-looking terminology, including the terms "assumes", "projects", "forecasts", "estimates", "expects", "anticipates", "believes", "plans", "intends", "may", "might", "will", "would", "can", "could", "should" or, in each case, their negative, or other variations or comparable terminology. These statements are 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 they are made. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the Company's liquidity and other factors described from time to time in the reports filed or furnished by the Company with the U.S. Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to update any forward-looking statement 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
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 25, 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.