Tag Archives: seadrill

As Upstreamonline first reported and we discussed last week, Norwegian startup Borr Drilling has been sniffing around Transocean’s jackup fleet. On Monday, Borr Drilling put out a press release confirming the reports. The company says it has signed an LOI with Transocean for the purchase of 15 jackups. Transocean has not released …

At this point, we see field development as a marketplace in the very early stages of turning around. As for a broader recovery in the deepwater markets, it’s not even the first inning yet. It’s more like the stretching routine before pre-game warm ups. There’s going to be a game, but …

A restructuring press release from Seadrill on Tuesday sent shares tumbling 29%. The press release said achieving viable restructuring would involve “significant dilution to current shareholders” and noted that the company needs a $1bn lifeline. In this context, down shares 29% is about right. But significant dilution to shareholders in a restructuring …