Seadrill

Seadrill Limited

Type	Publicly traded limited company
Traded as	OSE: SDRL, NYSE: SDRL
Industry	Oilfield services
Founded	2005
Headquarters	Hamilton, Bermuda
Key people	John Fredriksen (Chairman), Fredrik Halvorsen (CEO)
Products	Drilling rig lease and operation
Revenue	US $4.041 billion (2010)[1]
Operating income	US $1.625 billion (2010)[1]
Profit	US $1.117 billion (2010)[1]
Total assets	US $17.50 billion (end 2010)[1]
Total equity	US $5.937 billion (end 2010)[1]
Employees	9,800 (end 2010)[1]
Website	www.seadrill.com

Seadrill is an offshore drilling company domiciled in Bermuda and managed from Norway by Seadrill Management AS. Seadrill has operations in countries that include Angola, Brunei, the Republic of Congo, Indonesia, Malaysia, Nigeria, Norway, Thailand, Brazil and the United Kingdom among others. The company operates Semi-submersibles, Jack ups and Drillships. It sold the majority of their Tender rig and Semi-Tender operation to SapuraKencana in 2012. Tender rigs T-15, T16 and the West Vencedor were sold to Seadrill Partners. The company is listed on Oslo Stock Exchange and the New York Stock Exchange. Operational headquarters is situated in London, United Kingdom. Seadrill Management AS was originally situated in Stavanger, but after a vote to move in 2012, it is from late 2013 situated in London. Other major company locations are found in Singapore, Houston and Aberdeen. John Fredriksen has a major ownership in the company.

History

Seadrill was established in May 2005 and listed on Oslo Stock Exchange in November. By July 2005 it had acquired the drilling company Odfjell and by September 2006 it owns a controlling share of Smedvig and Eastern Drilling. The ownership in Smedvig was acquired in competition with Noble.

On 31 May 2010 Seadrill made a bid to acquire all shares in Scorpion Offshore offering Nkr40.50 ($6.26) per share. Seadrill already owned about 40% of Scorpion Offshore.^[2]

In 2011 Seadrill carved out six of its units and formed the company North Atlantic Drilling which operates in the North Atlantic Basin. It is a part of the Seadrill concern as it is 74% owned by the company. ^[3] In 2013 Seadrill acquired more than fifty percent (50%) of the outstanding shares in Sevan Drilling and stated in their announcement of the purchase that they would support Sevan Drilling.

In September 2013, a financial company, Heirs Holdings made a “substantial” investment in Seadrill’s Nigerian unit.^[4]

Fleet

As of Aug. 2012 Seadrill operates the following rigs:

^[5]

Seadrill's jackup West Atlas on Montara field about 690 kilometers offshore of Darwin, Australia caught fire on November 1, 2009 after the field had been leaking oil for ten weeks. The vessel operator was the Thai firm PTTEP.^[6]

References