Seadrill Wins $400M Brazil Contract for West Jupiter
Ticker: SDRL · Form: 6-K · Filed: Dec 18, 2024 · CIK: 1737706
Sentiment: bullish
Topics: contract-award, oil-gas, offshore-drilling
Related Tickers: SDRL
TL;DR
Seadrill just snagged a 3-year, $400M Brazil gig for the West Jupiter with Petrobras.
AI Summary
Seadrill Limited announced on December 17, 2024, that its ultra-deepwater drillship, the West Jupiter, secured a 1,095-day contract in Brazil with Petrobras. This contract is expected to contribute approximately $400 million in revenue.
Why It Matters
This significant contract award demonstrates Seadrill's ability to secure long-term work in key markets, bolstering its revenue and operational visibility.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a contract award, which is generally positive news with low immediate risk.
Key Numbers
- 1,095 days — Contract Duration (Length of the contract awarded to West Jupiter.)
- $400 million — Contract Value (Estimated revenue contribution from the new contract.)
Key Players & Entities
- Seadrill Limited (company) — Announcing entity
- West Jupiter (company) — Drillship awarded contract
- Petrobras (company) — Contracting party
- $400 million (dollar_amount) — Estimated contract value
- December 17, 2024 (date) — Announcement date
FAQ
What is the duration of the contract awarded to the West Jupiter?
The West Jupiter was awarded a 1,095-day contract.
Which company awarded the contract to Seadrill?
The contract was awarded by Petrobras.
What is the estimated revenue contribution from this contract?
The contract is expected to contribute approximately $400 million.
When was this contract award announced?
Seadrill announced the contract award on December 17, 2024.
In which region was the contract awarded?
The contract was awarded in Brazil.
Filing Stats: 1,114 words · 4 min read · ~4 pages · Grade level 16.4 · Accepted 2024-12-17 19:22:25
Key Financial Figures
- $493 million — etrobras, will contribute approximately $493 million to Seadrills order backlog, including a
- $31.5 million — ces and excluding a mobilization fee of $31.5 million. The program is expected to commence in
Filing Documents
- d904575d6k.htm (6-K) — 16KB
- g904575g1218002958019.jpg (GRAPHIC) — 3KB
- 0001193125-24-280615.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, without limitation, those regarding the Companys plans, strategies, business prospects and rig activity, including with respect to backlog and contract commencement dates and durations, and changes and trends in its business and the markets in which it operates, are forward-looking statements. These statements may include words such as 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 in connection with any discussion of the timing or nature of future operating or financial performance or other events. These statements are based on managements 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. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: those described under Item 3D Risk Factors in the Companys Annual Report on Form 20-F for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (SEC) on March 27, 2024, offshore drilling market conditions, including supply and demand, day rates, customer drilling programs and effects of new or reactivated rigs on the market, fluctuations in the international price of oil, international financial market conditions, inflation, changes in governmental regulations that affect the Comp
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: December17, 2024 By: /s/ Grant Creed Name: Grant Creed Title: Chief Financial Officer THE FIRST PARAGRAPH OF THIS REPORT ON FORM 6-K AND THE SECTION OF THIS REPORT ON FORM 6-K ENTITLED FORWARD-LOOKING STATEMENTS (COLLECTIVELY, THE INCORPORATED INFORMATION) ARE 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. EXCEPT FOR THE INCORPORATED INFORMATION, NO OTHER PORTION OF THIS REPORT ON FORM 6-K IS INCORPORATED BY REFERENCE INTO THE ABOVE REGISTRATION STATEMENTS.