Seadrill : May 12, 2025 Fleet Status Report

Published: 2025-05-12 09:45:13 ET SDRL

Published on 05/12/2025 at 09:45

This Fleet Status Report ("Report") includes forward-looking statements within the meaning of U.S. federal securities laws. All statements other than statements of historical facts included in this Report, including, without limitation, those regarding Seadrill Limited's (the "Company") plans, business prospects, financial performance, operations and rig activity, including with respect to contract awards, values, commencements, durations, extensions and options and planned out-of-service times, are forward-looking statements. These forward-looking 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.

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 Part I, Item 1A, "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 27, 2025, offshore drilling market conditions including supply and demand, dayrates, fluctuations in the price of oil, international financial market conditions, changes in governmental regulations that affect the Company or the operations of the Company's fleet, the review of competition authorities, and other important factors described from time to time in the reports filed or furnished by us with the SEC. The foregoing risks and uncertainties are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond our control. In many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.

All subsequent written and oral forward-looking statements attributable to us or to any person(s) acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law.

Investors should note that we announce material financial information in SEC filings, press releases and public conference calls. Based on guidance from the SEC, we may use the Investors section of our website (https://www.seadrill.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on our website is not part of, and is not incorporated into, this Report.

Ordered by contract completion

Firm contract Option period

Out-of-service time1Contract preparation

Rig Name Location

West Capella S.E. Asia

West Gemini Angola

Sevan Louisiana U.S. Gulf Sonangol Libongos2 Angola West Vela U.S. Gulf

Sonangol Quenguela2 Angola

West Carina Brazil

West Neptune U.S. Gulf

West Saturn Brazil

West Auriga Brazil

West Polaris Brazil

West Jupiter Brazil

West Tellus Brazil

West Elara Norway

Active Rig Count by Location

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D

Rig Name

Year in Service

Rig Type

Location

Customer

Start Date

End Date

Dayrate ($USD)

Notes

Drillships and Benign Semi-Submersibles (12)

Sevan Louisiana

2013

Semi-Sub

U.S. Gulf

Walter Oil & Gas

May-24

Jun-25

Undisclosed

Sonangol Libongos1

2019

Drillship

Angola

Undisclosed

Dec-20

Jul-25

Undisclosed

Managed by Seadrill through Sonadrill joint venture; Seadrill earns daily management fee, not dayrate

Sonangol Quenguela1

2019

Drillship

Angola

TotalEnergies

May-24

Oct-25

Undisclosed

Managed by Seadrill through Sonadrill joint venture; Seadrill earns daily management fee, not dayrate

West Auriga

2013

Drillship

Brazil

Petrobras

Dec-24

Dec-27

Undisclosed

Total contract value at signing was ~$577m, including mobilization and additional services

West Carina

2015

Drillship

Brazil

Petrobras

Nov-22

Jan-26

252,600

West Gemini

2010

Drillship

Angola

TotalEnergies

Nov-24

May-25

404,800

Managed by Seadrill through Sonadrill joint venture; Seadrill earns daily management fee, not dayrate Planned out-of-service period for ~60 days commencing in June, subject to contract award

West Jupiter

2014

Drillship

Brazil

Petrobras

Dec-22 Mar-26

Dec-25 Mar-29

252,290

Undisclosed

Mar-26 total contract value at signing was ~$525m, including mobilization and additional services

West Neptune

2014

Drillship

U.S. Gulf

LLOG

May-24 May-25 Nov-25

May-25 Nov-25 May-26

Undisclosed

Nov-25 total contract value is ~$86m, excluding additional services, ~180-day duration

West Polaris

2008

Drillship

Brazil

Petrobras

Feb-25

Feb-28

Undisclosed

Total contract value at signing was ~$518m, including mobilization and additional services

Rig Name

Year in Service

Rig Type

Location

Customer

Start Date

End Date

Dayrate ($USD)

Notes

West Saturn

2014

Drillship

Brazil

Equinor

Oct-22

Oct-26

Undisclosed

Includes priced options through September 2030

West Tellus

2013

Drillship

Brazil

Petrobras

Jan-23 Apr-26

Feb-26 Apr-29

237,230

Undisclosed

Apr-26 total contract value at signing was ~$539m, including mobilization and additional services

West Vela

2013

Drillship

U.S. Gulf

Talos

Feb-25

Sep-25

Undisclosed

Harsh Environment Rigs (1)

West Elara

2011

CJ 70

Norway

ConocoPhillips

May-18

Mar-28

Market Indexed Rate

Stacked Rigs (4)

West Capella

2008

Drillship

Malaysia

West Aquarius

2008

HE Semi-Sub

Norway

West Phoenix

2008

HE Semi-Sub

Norway

West Eclipse

2011

Semi-Sub

Namibia

Disclaimer

Seadrill Ltd. published this content on May 12, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2025 at 13:44 UTC.