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), Per Wulff (President and CEO)
Products	Drilling rig lease and operation
Revenue	US $ 5.020 billion (2014)[1]
Operating income	US $2.098 billion (end 2014)[1]
Profit	US $1.338 billion (end 2014)[1]
Total assets	US $25.891 billion (end 2014)[1]
Total equity	US $10.068 billion (end 2014)[1]
Number of employees	9,00 (2015)[1]
Website	www.seadrill.com

Seadrill is an offshore drilling company incorporated in Bermuda and managed from London. Seadrill has operations in countries that include Angola, Brunei, the Republic of Congo, Indonesia, Malaysia, Nigeria, Norway, Thailand, Brazil, Saudi Arabia, UAE, US 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 2013 situated in London. Other major company locations are found in Singapore, Houston, Rio, Dubai and Stavanger. John Fredriksen has a major ownership in the company.

History

Seadrill was established in May 2005 by the Norwegian-born shipping tycoon John Fredriksen and listed on Oslo Stock Exchange in November the same year. By July 2005 it had acquired the drilling company Odfjell and by September 2006 it owned 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]

Financial

Seadrill had total operating revenues of $4.478 billion in 2012, up from $4.192 billion in 2011. The net income decreased from $1.482 for 2011, to $1.205 for 2012.

Since its founding, Seadrill has paid out a total dividend of $15.825 per share.

Fleet

As of November 2015 Seadrill operates 69 rigs that comprises drillships, jack-up, semi-submersibles and tender 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