0001193125-21-252501.txt : 20210820 0001193125-21-252501.hdr.sgml : 20210820 20210820133159 ACCESSION NUMBER: 0001193125-21-252501 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210820 FILED AS OF DATE: 20210820 DATE AS OF CHANGE: 20210820 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Seadrill Ltd CENTRAL INDEX KEY: 0001737706 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39327 FILM NUMBER: 211193147 BUSINESS ADDRESS: STREET 1: PAR-LA-VILLE PLACE, 14 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 08 BUSINESS PHONE: 441 295 9500 MAIL ADDRESS: STREET 1: PAR-LA-VILLE PLACE, 14 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 08 FORMER COMPANY: FORMER CONFORMED NAME: NEW SDRL LTD. DATE OF NAME CHANGE: 20180417 6-K 1 d118535d6k.htm 6-K 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2021

Commission File Number 333-224459

 

 

Seadrill Limited

(Exact name of Registrant as specified in its Charter)

 

 

Par-la-Ville Place, 4th Floor

14 Par-la-Ville Road

Hamilton HM 08 Bermuda

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).

Yes  ☐            No  ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).

Yes  ☐            No  ☒

 

 

 


ITEM 1. INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Seadrill New Finance Limited (the “Issuer”) - Financial Information Relating to Seabras JV

Hamilton, Bermuda, August 20, 2021 – Seadrill Limited (“Seadrill” or “the Company”) (OSE:SDRL, OTCPK:SDRLF) and the Issuer announce the publication of unaudited financial information for the Seabras JV for the six months ended June 30, 2021. The Issuer also expects to publish a Fleet Status report for the Seabras JV in the near future.

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 across the globe. Seadrill’s high quality, technologically advanced fleet spans all asset classes allowing its experienced crews to conduct its operations from shallow to ultra-deep-water environments. The Company operates 24 rigs, which includes drillships, jack-ups and semi-submersibles.

Seadrill is listed on the Oslo Børs and OTC Pink markets. For more information, visit https://www.seadrill.com/.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon 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 news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. 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 the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor 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.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Media questions should be directed to:

Iain Cracknell

Director of Communications

+44 (0) 7765 221 812

Analyst questions should be directed to:

Hawthorn Advisors

seadrill@hawthornadvisors.com

+44 (0) 203 7454960

ITEM 2. EXHIBITS

(d) Exhibits.

 

Exhibit No.

  

Description

99.1    Seabras Sapura Q2 2021 Financial Results.


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: August 20, 2021     By:  

/s/ Stuart Jackson

      Name: Stuart Jackson
      Title: Chief Executive Officer of Seadrill Management Ltd.
      (Principal Executive Officer of Seadrill Limited)

 

EX-99.1 2 d118535dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Seabras Sapura Q2 2021 - Summary Financials

 

Seabras Sapura 1H 2021 P&L

 

 

     Quarter              
     ended     Quarter        
     March 31,     ended June        
($ in millions)    2021     30, 2021     1H 2021  

Operating revenues

   $ 77     $ 85     $ 162  

G&A

     3       3       6  

Net operating income

     19       20       39  

Net income

     14       5       20  

Seadrill ownership percentage

     50     50     50
  

 

 

   

 

 

   

 

 

 

Share of net income / (loss)

   $ 7     $ 3     $ 10  

Amortization of basis differences

     (4     (5     (9
  

 

 

   

 

 

   

 

 

 

Share in results from Seabras (net of tax)

   $ 3     -$ 2     $ 1  

Memo:

      

EBITDA

     38       39       76  

CapEx

     5       7       12  

Unlevered FCF

     37       33       71  

Backlog

         770  

Guidance:

      

2021 Full year CapEx

     40      

 

Seabras Sapura Q2 2021 Balance Sheet

 

 

     Quarter  
     ended June  
($ in millions)    30, 2021  

Cash and cash equivalents

   $ 70  

Other current assets

     89  

Long term restricted cash

     8  

Other non-current assets

     1,433  

Current liabilities

     (517

Non-current liabilities

     (335
  

 

 

 

Net Assets

   $ 748  

Seadrill ownership percentage

     50
  

 

 

 

Seadrill share of book equity

   $ 374  

Shareholder loans held as equity

     115  

Basis difference allocated to rigs

     (343

Basis difference allocated to contracts

     77  
  

 

 

 

Total adjustments

     (151
  

 

 

 

Book value of Seadrill investment

   $ 223  

Memo:

  

External Debt

   $ 405  
 

 

Seadrill New Finance Limited expects to publish a Fleet Status report for Seabras Sapura in the near future and expects to publish the Fleet Status report and financial information on a periodic basis