Seadrill Ltd (NYSE:SDRL) reported a three-year contract for each of the AOD II and AOD III. The former’s contract value is expected to be around, $98 million and the latter’s near $101 million.
Seadrill Limited belongs to Basic Materials sector and Oil & Gas Drilling & Exploration industry. The company’s Market capitalization is $226.5 million with the total Outstanding Shares of 373.
Seadrill was in the news last week when Norwegian oil company Var Energi announced it has chartered its West Phoenix offshore drilling rig for operations at the Balder field in the North Sea.
SDRL says it expects the total contract value for the firm portion of the contract at ~$302 million, with start-up anticipated at the end of Q2 2021 and running through Q3 2023; Bassoe Offshore calculates a dayrate of $360K.
Var Energi's Balder Future project is a part of the Balder X project, with targeted recovery of 200M barrels of additional reserves from the Balder-Ringhorne area in the North Sea.
Shares in SDRL rocketed 34 cents, or 14.4%, to $2.71
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