Seadrill
 | |
Type | Public limited company |
|---|---|
| Traded as | OSE: SDRL NYSE: SDRL |
| Industry | Petroleum industry |
| Founded | 2005 (2005) |
| Headquarters | Hamilton, Bermuda |
Key people | John Fredriksen, Chairman Anton Dibowitz, CEO Mark Morris, CFO[1] |
| Services | Offshore drilling |
| Revenue |  $3.169 billion (2016)[1] |
Operating income |  $1.026 billion (2016)[1] |
Net income | -$0.155 billion (2016)[1] |
| Total assets | $21.666 billion (2016)[1] |
| Total equity | $10.063 billion (2016)[1] |
Number of employees | 4,780 (2016)[1] |
| Website | www.seadrill.com |
Seadrill is a deepwater drilling contractor that provides drilling services to the oil and gas industry. It is incorporated in Bermuda and managed from London. Seadrill has operations in Angola, Brunei, the Republic of Congo, Indonesia, Malaysia, Nigeria, Norway, Thailand, Brazil, Saudi Arabia, UAE, United States and the United Kingdom.
Contents
1 Current operations
2 History
3 Controversies
3.1 Bribery allegations
3.2 Environmental damage due to rig fire
4 References
5 External links
Current operations
The company operates semi-submersibles, jack-ups and drillships. The company provides quarterly online updates on the status of each rig in its fleet on its website.[2]
History
Seadrill was incorporated as a Bermuda company in May 2005 by the Norwegian-born shipping tycoon John Fredriksen and listed on the Oslo Stock Exchange in November 2005.
In July 2005, the company acquired the drilling company Odfjell.[3]
In September 2006, the company acquired a controlling share of Smedvig by outbidding Noble Corporation.[3]
In 2007, the company acquired Eastern Drilling.[4]
In May 2010, the company outbid Ensco plc for Scorpion Offshore, valuing the company at $567 million.[5]
In 2014, Seadrill conducted an initial public offering of its North Atlantic Drilling subsidiary, which owns harsh environment rigs.[6] Seadrill continued to own 70% of North Atlantic Drilling.[7]
In April 2013, the company sold the majority of its tender rig and semi-tender operation to SapuraKencana.[8]
In May 2013, the company sold Tender rigs T-15, T16 and the West Vencedor to Seadrill Partners LLC.[9]
In June 2013, the company acquired a majority interest in Sevan Drilling.[10]
In November 2014, the company suspended dividend payments as a result of a downturn in the industry.[11]
In September 2017, the company filed for bankruptcy protection.[12][13]
Controversies
Bribery allegations
In 2015, Petrobras alleged bribery in the negotiations of rig contracts signed by Sevan Drilling, a subsidiary of Seadrill, in 2005-2008.[14]
Environmental damage due to rig fire
In November 2009, Seadrill's West Atlas jackup rig, which was located on Montara field, about 690 kilometers offshore of Darwin, Australia, caught fire after the field had been leaking oil for ten weeks. The rig was operated by the Thai firm PTTEP. For 74 days, gas and oil ran into the Timor Sea, in what was one of the worst environmental disasters in Australian history.[15]
References
^ abcdefg Seadrill Limited 2016 Form 20F Annual Report
^ Seadrill: Fleet Status Report
^ ab Helman, Christopher (April 19, 2006). "Viking Attacks". Forbes..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}
^ "Seadrill Now Controls Nearly All Eastern Shares, Votes". RigZone. May 21, 2007.
^ "Seadrill beats Ensco in Scorpion battle". Reuters. May 28, 2010.
^ "North Atlantic Drilling Ltd. Announces Pricing of its Initial Public Offering of its Common Shares" (Press release). GlobeNewswire. January 28, 2014.
^ "Norway's Seadrill says to remain top NADL owner". Reuters. May 26, 2014.
^ "Seadrill completes the integration of the tender rig business into SapuraKencana" (Press release). Marketwired. April 30, 2013.
^ "Seadrill Limited sells the tender rig T15 to Seadrill Partners LLC". Reuters. May 7, 2013.
^ "SEVAN DRILLING ASA: ANNOUNCEMENT FROM THE INDEPENDENT DIRECTORS" (Press release). GlobeNewswire. June 27, 2013.
^ Holter, Mikael (November 26, 2014). "Seadrill Plunges on Dividend Suspension as Rig Market Sours". Bloomberg L.P.
^ "Seadrill Limited Restructuring Update" (Press release). GlobeNewswire. September 12, 2017.
^ Church, Steven; Holter, Mikael; Rascouet, Angelina; Casiraghi, Luca (September 13, 2017). "Seadrill Files for Bankruptcy in Bid to Shrink Debt Burden". Bloomberg L.P.
^ "SEVAN DRILLING LTD: PRESS RELEASE" (Press release). GlobeNewswire. October 16, 2015.
^ SMITH, ROHAN (August 31, 2015). "Six years after the Montara oil spill, those who suffered most still seek compensation". News.com.au.
External links
- Business data for Seadrill Limited: Google Finance
- Yahoo! Finance
- Reuters
- SEC filings
- Business data for Seadrill Limited: Google Finance
