Seadrill Ltd Files 3Q24 Interim Report

TL;DR

Seadrill dropped its Q3 2024 interim report, check financials.

AI Summary

Seadrill Limited filed its 6-K report for the nine months ended September 30, 2024. The report includes an interim financial update, detailing the company's performance and financial position as of that date. Seadrill Limited, incorporated in Bermuda, is primarily involved in drilling oil and gas wells.

Why It Matters

This filing provides investors with an update on Seadrill's financial performance and operational status for the third quarter of 2024, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine interim financial report (6-K) and does not contain significant new disclosures that would inherently increase risk.

Key Players & Entities

• Seadrill Limited (company) — Registrant
• 001-39327 (company) — Commission File Number
• 20240930 (date) — Reporting Period End Date
• 20241113 (date) — Filing Date

FAQ

Key Financial Figures

• $250 million — Company announced it had completed the $250 million share repurchase program initiated in D
• $47 — with a weighted average share price of $47.61, equal to the total of $250 million.
• $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 Fir
• $46 — with a weighted average share price of $46.77, equal to the total of $192 million.
• $192 million — price of $46.77, equal to the total of $192 million. On September 30, 2024, the Company als
• $338 million — ling International for cash proceeds of $338 million. The closing of the sale occurred in J
• $203 m — le occurred in June 2024, and a gain of $203 million, net of transaction costs, was re
• $74 — Brent oil price at November 8, 2024 was $74. Dec-2021 Dec-2022 Dec-2023 Sept-2024
• $304 thousand — ree months ended September 30, 2024 was $304 thousand compared to $290 thousand for the three
• $290 thousand — 30, 2024 was $304 thousand compared to $290 thousand for the three months ended September 30
• $297 thousand — ine months ended September 30, 2024 was $297 thousand compared to $279 thousand for the nine
• $279 thousand — 30, 2024 was $297 thousand compared to $279 thousand for the nine months ended September 30,

Filing Documents

• seadrillpressrelease6-k202.htm (6-K) — 891KB
• exhibit41-thirdsupplementa.htm (EX-4.1) — 17KB
• 0001628280-24-047456.txt ( ) — 909KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 3 Interim Consolidated Financial Statements (unaudited) Unaudited Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 F- 2 Unaudited Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 F- 3 Unaudited Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 F-4 Unaudited Consolidated Statements of Changes in Equity for the three and nine months ended September 30, 2024 and 2023. F- 5 Notes to the Unaudited Consolidated Financial Statements F- 6 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. 1 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS The statements included in this report on Form 6-K regarding future financial performance and results of operations and other statements that are not historical facts, are forward-looking statements within the meaning of Section 27A of the United States ( U.S. ) Securities Act of 1933, as amended (the Securities Act ), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements in this report on Form 6-K include, but are not limited to, statements about the following subjects the effect of any disputes and actions with respect to production levels by, among or between major oil and gas producing countries and any expectations we may have with respect thereto our results of operations, our cash flow from operations, our revenue efficiency and other performance indicators and optimization of rig-based spending the offshore drilling market, including the effects of variations in

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations You should read the following discussion of our financial condition and results of operations in conjunction with the unaudited interim condensed Consolidated Financial Statements as of and for the three and nine months ended September 30, 2024 presented in this report, as well as the Consolidated Financial Statements and related notes of Seadrill Limited included in the 2023 20-F. Among other things, those financial statements include more detailed information regarding the basis of presentation for the following information. The unaudited interim condensed Consolidated Financial Statements of Seadrill Limited included in this report have been prepared in accordance with United States Generally Accepted Accounting Principles and are presented in US Dollars. Management's Discussion and Analysis of Financial Condition and Results of Operations is designed to provide a reader of our financial statements with a narrative from the perspective of management. Overview Seadrill Limited (along with any one or more of its consolidated subsidiaries, or to all such entities, referred to as Seadrill, we, us, our, and the Company) is an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Our primary business is the ownership and operation of drillships, semi-submersible rigs and jackup rigs for operations in shallow to ultra-deepwater in both benign and harsh environments. We contract our drilling units to drill wells for our customers on a dayrate basis. Our customers include oil super-majors, state-owned national oil companies and independent oil and gas companies. In addition, we provide management services to certain affiliated entities. As of September 30, 2024, we owned a total of 16 drilling rigs, of which nine were operating (inclusive of one leased to the Sonadrill joint venture), three were undergoing contract preparations for

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View this 6-K filing on SEC EDGAR