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International Offshore Finance

Seadrill writes down $2.9bn on rigs

Seadrill said more scrapping was likely and its Chapter 11 bankruptcy would last ‘for many months’ as it tried to agree a deal with creditors

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Offshore driller Seadrill announced a $2.9bn impairment charge for last year after it filed for bankruptcy protection in Texas in February. The Fredriksen-controlled driller said demand would stay low this year, with some recovery in 2022

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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