HAMILTON, Bermuda, June 26,
2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or
the "Company") (NYSE: SDRL) (OSE: SDRL) today announces that it is
in active discussions to sell (i) the jack-up rigs known as the
West Castor, West Telesto and West Tucana (the
"Qatar Jack-Up Fleet"), which are bareboat chartered by Seadrill to
Gulfdrill LLC ("Gulfdrill"), a 50:50 joint venture between Seadrill
and Gulf Drilling International, and (ii) Seadrill's 50% equity
interest in Gulfdrill. Seadrill has not reached agreement yet on
material terms, including price, with any potential purchaser. Any
transaction remains subject to additional due diligence and the
negotiation and execution of definitive agreements. There is no
certainty at this stage that the process will continue or that a
transaction will materialize.
This announcement is considered to contain inside information as
defined in article 7 of the EU Market Abuse Regulation, is subject
to disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act, and was made public by
Simon Woods at Hawthorn Advisors on
the date and time stated above.
Contact Information
For additional information, visit
www.seadrill.com.
Benjamin Wiseman
Investor Relations
T: +44 (0)7867139312
E: benjamin.wiseman@seadrill.com
About Seadrill
Seadrill is a leading offshore drilling contractor utilizing
advanced technology to unlock oil and gas resources for clients
across harsh and benign locations around the globe. Seadrill's
high-quality, technologically-advanced fleet spans all asset
classes allowing its experienced crews to conduct operations across
geographies, from shallow to ultra-deepwater environments.
Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Exchange Act. All statements other than statements of
historical facts included in this communication, including those
regarding the potential disposal of the Qatar Jack-Up Fleet, the
potential disposal of the Company's equity interest in Gulfdrill,
and the potential consideration received in such transaction, and
statements about the Company's plans, strategies, business
prospects, changes and trends in its business and the markets in
which it operates 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 on 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 of this communication. Important
factors that could cause actual results to differ materially from
those in the forward-looking statements include, but are not
limited to, the completion of due diligence, the negotiation and
execution of definitive agreements, the Company's ability to
achieve an acceptable sale price, a potential purchaser's ability
to raise necessary financing, customary closing conditions for a
transaction of this nature, and other important factors described
from time to time in the reports filed or furnished by us with the
U.S. Securities and Exchange Commission ("SEC"). Consequently, no
forward-looking statement can be guaranteed. When considering these
forward-looking statements, you should also keep in mind the risks
described from time to time in the Company's filings with the SEC,
including its annual report on Form 20-F for the year ended
December 31, 2022, filed with the SEC
on April 19, 2023, (File No.
001-39327) and subsequent filings.
The Company undertakes no obligation to update any
forward-looking statements 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 us to predict all of these
factors. Further, the Company cannot assess the impact of each such
factors on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially
different from those contained in any forward-looking
statement.
CONTACT:
seadrill@hawthornadvisors.com
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SOURCE Seadrill Limited