Sunday, June 07, 2020 1:55:20 PM
Jun. 3, 2020 2:44 PM ET|About: Seadrill Limited (SDRL)|By: Carl Surran, SA News Editor
Seadrill (SDRL -8.2%) tells WSJ that Chapter 11 bankruptcy is on the table, a day after CFO Stuart Jackson said the downturn due to the coronavirus and the Saudi-Russian oil price had forced the company to abandon what was an "interim solution" to its debt woes and focus on a comprehensive restructuring.
"We are considering all options at this stage, of which Chapter 11 is one," a Seadrill spokesman says, adding the restructuring situation is still fluid. "We anticipate this to take place over the coming year, but it is too early to say for certain."
On yesterday's conference call, Jackson said the company believes it has sufficient liquidity to manage its business as well as the restructuring process.
"From an investment perspective, we've also written down the value of our Seadrill Partners holding to zero, as we expect this entity will move into a comprehensive restructuring of its balance sheets in the coming future," Jackson said.
Recent SDRL News
- Seadrill Announces Second Quarter 2024 Earnings Release and Conference Call • Business Wire • 07/12/2024 05:06:00 PM
- Seadrill Initiates Extension of Share Repurchase Program • Business Wire • 06/25/2024 10:16:00 PM
- Seadrill Completes Divestment of Jack-Up Rigs • Business Wire • 06/25/2024 06:14:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/17/2024 08:18:49 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 06/14/2024 12:30:11 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/10/2024 08:22:12 PM
- Seadrill Announces Voluntary Delisting from Oslo Stock Exchange, Following Oslo Bors Approval • Business Wire • 06/07/2024 09:38:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/03/2024 08:11:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/20/2024 08:13:25 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/16/2024 11:22:08 AM
- Seadrill Enters Agreement to Sell its Qatar Jack-Up Fleet and Expands Share Repurchase Program • Business Wire • 05/16/2024 11:13:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 09:15:09 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 08:37:58 PM
- Seadrill Announces First Quarter 2024 Results • Business Wire • 05/14/2024 08:15:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/13/2024 08:21:01 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 05/10/2024 10:00:31 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/07/2024 09:10:53 PM
- Seadrill Announces Two New Drillship Commitments • Business Wire • 05/07/2024 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/06/2024 08:18:48 PM
- Seadrill Announces First Quarter 2024 Earnings Release and Conference Call • Business Wire • 04/23/2024 08:30:00 PM
- Seadrill Limited Files its 2023 Annual Report on Form 20-F • Business Wire • 03/27/2024 10:12:00 AM
- Seadrill Announces Fourth Quarter and Full Year 2023 Results • Business Wire • 02/28/2024 10:15:00 PM
- Seadrill Announces Fourth Quarter and Full Year 2023 Earnings Release and Conference Call • Business Wire • 02/05/2024 07:30:00 AM
- Seadrill Provides Commercial Updates on West Vela, West Capella, and West Auriga • Business Wire • 01/29/2024 09:20:00 PM
- Seadrill 2024 Annual General Meeting of Shareholders • Business Wire • 01/23/2024 04:18:00 PM
FEATURED Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM
Peer To Peer Network aka Mobicard™ Launches AI Investor Chatbot Boosting Engagement & Lead Generation on Ihub • PTOP • Jul 15, 2024 8:30 AM
Greenlite Ventures Announces AI Integration into No Limit Platforms • GRNL • Jul 15, 2024 8:00 AM