By Rafaela Lindeberg (Bloomberg) — Offshore contractor Seadrill Ltd., owned by billionaire John Fredriksen, is proposing a debt write-off of just over $4.8 billion, according to Finansavisen. The proposal, sent to the U.S....

Seadrill Ltd and most of its subsidiaries have filed for Chapter 11 proceedings in the Southern District of Texas as part of a balance sheet restructuring which will involve a...

Sept 29 (Reuters) – Golar LNG said on Tuesday Hygo Energy Transition Ltd Chief Executive Officer Eduardo Antonello has taken leave of absence with immediate effect, following a corruption investigation...

By Mikael Holter (Bloomberg) — Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., raising the question of whether he could become less supportive of an offshore-rig company struggling...

Offshore drilling contractor Seadrill has announced a contract award from an undisclosed customer for its ultra-deepwater drillship West Gemini in West Africa. The nine-well contract includes three options, each for...

By Mikael Holter (Bloomberg) — Seadrill Ltd. plunged to the lowest since it emerged from bankruptcy less than year ago after Carnegie Investment Bank AB recommended selling the shares and...

Seadrill Partners announced it has secured a one-well contract with ExxonMobil for its semi-submersible West Aquarius off the east coast of Canada. Backlog for the firm portion of the contract...

By Mikael Holter (Bloomberg) — John Fredriksen’s stake in Seadrill Ltd., once worth more than $5 billion, was virtually wiped out in the oil-market crash. Now, the Norwegian-born shipping tycoon is placing...

Bankrupt offshore drilling contractor Seadrill has announced that it anticipates emerge from the chapter 11 process in the first half of July 2018 upon completion of its commitments under a...

John Fredriksen-controlled Northern Drilling has entered into agreements to acquire two newbuild ultra-deepwater drillships from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) for the bargain price of just US...

By Nerijus Adomaitis and Tom Hals OSLO/WILMINGTON, Del., Feb 26 (Reuters) – Shipping tycoon John Fredriksen has reached an agreement with a majority of creditors over a restructuring plan for oil...

OSLO, Feb 17 (Reuters) – Seadrill’s main owner, billionaire John Fredriksen, is close to reaching a final agreement with banks, bondholders and South Korean shipyards on a financial restructuring plan,...

By Nerijus Adomaitis and Tom Hals OSLO/WILMINGTON, Delaware, Feb 15 (Reuters) – Seadrill’s main owner, billionaire John Fredriksen, is close to a deal with unsecured bondholders and South Korean shipyards on...

By Mikael Holter (Bloomberg) — After alternative proposals were unveiled seeking to challenge Seadrill Ltd.’s restructuring plan, one of the oil-rig company’s key banks said any deal will require the...

by Chris Hughes (Bloomberg) Shipping billionaire John Fredriksen struck a deal to save his Seadrill Ltd oil services company from collapse in 2017. Next year, he faces a fight to...

By Chris Hughes (Bloomberg Gadfly) — Founder John Fredriksen has had to watch the value of Seadrill Ltd fall from more than $20 billion to barely $100 million in the...

By Steven Church, Mikael Holter, Angelina Rascouet and Luca Casiraghi (Bloomberg) — Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, filed for bankruptcy protection after working out a deal with...

Seadrill has commenced its long-awaited comprehensive restructuring plan which includes a prearranged Chapter 11 bankruptcy as the offshore driller finally reaches a deal to restructure nearly $6 billion worth of...

By Nerijus Adomaitis and Joachim Dagenborg OSLO, Aug 24 (Reuters) – Offshore driller Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, aims to raise $1...

By Ole Petter Skonnord OSLO, July 26 (Reuters) – Offshore drilling contractor Seadrill again delayed restructuring its $14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11...