EnergyWatch

The new Seadrill reports operating profit following long restructure

Rig company Seadrill, with strained financials after an extended downturn, reports black operating figures for the start of the year. The company came out of bankruptcy protection in February.

Photo: PR/Seadrill

Seadrill secured black operating earnings in a first quarter that saw the rig company concluding a process of bankruptcy protection, rescue plan in hand, as reported by the firm Wednesday morning.

For the first three months, Seadrill reports adjusted earnings before interest, taxes, depreciations and amortizations (EBITDA) of USD 78m and an operating profit of USD 42m.

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