BUZZ-Seadrill rises on new contract awards by Petrobras

Reuters
18 Dec 2024
BUZZ-Seadrill rises on new contract awards by Petrobras

** Offshore drilling contractor Seadrill's SDRL.N shares rise 3.2% to $38.51 in extended trading

** Co's ultra-deepwater drillship, West Jupiter, was awarded a 1,095-day contract in Brazil by Petrobras PETR4.SA

** Contract to contribute ~$493 mln to SDRL's order backlog

** SDRL's ultra-deepwater drillship, West Tellus, awarded a 1,095-day contract for the Sépia and Atapu fields in the Santos Basin, offshore Brazil, by Petrobras

** Contract to contribute ~$498 mln to SDRL's order backlog

** Co expects both programs to commence in Q1 2026; West Tellus contract award includes an optional period of up to 305 additional days

** Up to last close, stock down 21.1% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

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