SEADRILL Ltd

Seadrill Limited is an offshore drilling contractor that provides worldwide offshore drilling services to the oil and gas industry. The company's main business involves owning and operating drillships and semi-submersible rigs for drilling operations in shallow to ultra-deepwater, across both benign and harsh environments. Seadrill contracts its drilling units to customers, including oil super-majors, state-owned national oil companies, and independent oil and gas companies, on a dayrate basis. Additionally, Seadrill provides management services to certain affiliated entities. As of December 31, 2025, Seadrill owned a total of 15 drilling units. Of these, 10 were operating, one was undergoing capital upgrade projects for a contract starting in the second quarter of 2026, one was undergoing repairs and maintenance projects, and three were cold stacked. The 10 operating units included nine benign floaters (consisting of six 7th generation drillships, two 6th generation drillships, and one benign environment semi-submersible) and one harsh environment jackup. In addition to its owned assets, as of December 31, 2025, Seadrill managed two drilling units owned by Sonangol. The company conducts worldwide operations wherever activities occur in the global oil and gas industry. As of December 31, 2025, Seadrill employed approximately 3,000 employees globally. Seadrill Limited is an exempted company limited by shares incorporated under the laws of Bermuda on October 15, 2021, initially as "Seadrill 2021 Limited." On February 22, 2022, Seadrill Limited and certain subsidiaries emerged from Chapter 11 bankruptcy proceedings.