Seadrill Ltd

seadrill.com

What Do They Do?

Operates drillships and semi-submersible rigs and provides offshore drilling services to major, state-owned and independent oil and gas companies.

Who Are Their Customers?

Oil and gas companies contract Seadrill for offshore drilling services. Seadrill also provides management services to certain affiliated entities.

Customers above 10% of revenue, FY2025

of revenue from four customers (36%, 22%, 11%, 10%)

FY2023: 33% from two customers

How Are They Changing?

Since the FY2025 annual report

Aug 10, 2026 Raised full-year revenue and Adjusted EBITDA guidance Raised full-year 2026 revenue guidance to $1.50 - $1.55 billion and Adjusted EBITDA guidance to $420 - $450 million.
Mar 18, 2026 Samir Ali replaced Simon Johnson as CEO

Management arrangements The older report describes managing additional rigs through arrangements with Sonangol and SeaMex; the latest says all remaining management agreements have expired and Seadrill manages its own rigs.

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