EnergyWatch

Seadrill loses USD 158 million in the second quarter

John Fredriksen's drilling company Seadrill lost USD 158 million in the second quarter while half of the company's rigs have been laid up. Everything is being done in order to land a rescue plan in less a month, says CEO Anton Dibowitz.

Photo: Richard Drew/AP/POLFOTO/arkiv

Norwegian company Seadrill's financial problems have hit hard during the second quarter, where the drilling company delivered a net deficit of USD 158 million to investors against a USD 267 million profit in the second quarter of 2016.

Market conditions remain challenging. Oil companies continue to focus on cash conservation and in the majority of cases their offshore capex for full-year 2017 is now forecast to be less than initial guidance."

Seadrill on oil market conditions

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