SFL (SFL) said late Tuesday that Borgarting Court of Appeal in Norway has issued a judgment in the legal dispute between its rig-owning subsidiary and certain units of Seadrill (SDRL), unanimously deciding that Seadrill breached the contract when redelivering the Hercules drilling rig to SFL in December 2022.

Seadrill was ordered to pay SFL's subsidiary a total of about 525 million Norwegian kroner ($55 million), including compensation, late payment interest and legal costs, the company said in a filing.

SFL said it was awarded its full legal costs for the proceedings before both the Oslo District Court and Borgarting Court of Appeal.