Seadrill
 | |
| Company type | Publicly traded limited company |
|---|---|
| OSE: SDRL, NYSE: SDRL | |
| Industry | Oilfield services |
| Founded | 2005 |
| Headquarters | Hamilton, Bermuda |
Key people | John Fredriksen (Chairman), Per Wulff (President and CEO) |
| Products | Drilling rig lease and operation |
| Revenue |  US $4.335 billion (2015)[1] |
| US$1.019 billion (2015)[1] | |
| -US$750 million (2015)[1] | |
| Total assets | US$23.470 billion (2015)[1] |
| Total equity | US$9.371 billion (2015)[1] |
Number of employees | Approximately 9,000 (2015)[1] |
| Website | www.seadrill.com |
Seadrill is a deepwater drilling contractor which provides drilling services to the oil and gas industry. It is incorporated in Bermuda and managed from London. Seadrill has operations in Angola, Brunei, the Republic of Congo, Indonesia, Malaysia, Nigeria, Norway, Thailand, Brazil, Saudi Arabia, UAE, United States and the United Kingdom.
Current operations
The company operates semi-submersibles, jack-ups and drillships. The company provides quarterly online updates on the status of each rig in its fleet on its website.[2]
As of 2015, founder John Fredriksen owned 119 million shares of the company. [3]
History
Seadrill was incorporated as a Bermuda company in May 2005 by the Norwegian-born shipping tycoon John Fredriksen and listed on the Oslo Stock Exchange in November 2005. In July 2005, it acquired the drilling company Odfjell. [4]
In September 2006, it purchased a controlling share of Smedvig by outbidding Noble Energy. [5]
In 2007, Seadrill acquired Eastern Drilling.[6]
In May 2010, Seadrill outbid Ensco plc for Scorpion Offshore, valuing the company at $567 million.[7]
In 2014, Seadrill conducted an initial public offering of its North Atlantic Drilling subsidiary, which owns harsh environment rigs.[8] Seadrill continued to own 70% of North Atlantic Drilling. [9]
In 2013, the company sold the majority of its tender rig and semi-tender operation to SapuraKencana. [10]
The company also sold Tender rigs T-15, T16 and the West Vencedor to Seadrill Partners LLC. [11]
In June 2013, Seadrill acquired a majority interest in Sevan Drilling. [12]
In September 2013, a financial company, Heirs Holdings made a “substantial” investment in Seadrill’s Nigerian unit.[13]
In November 2014, the company suspended dividend payments as a result of a downturn in the industry. [14]
Controversies
Bribery allegations
In 2015, Petrobras alleged bribery in the negotiations of rig contracts signed by Sevan Drilling, a subsidiary of Seadrill, in 2005-2008. [1]
Environmental damage due to rig fire
In November 2009, Seadrill's West Atlas jackup rig, which was located on Montara field, about 690 kilometers offshore of Darwin, Australia, caught fire after the field had been leaking oil for ten weeks. The rig was operated by the Thai firm PTTEP. For 74 days, gas and oil ran into the Timor Sea, in what was one of the worst environmental disasters in Australian history. [15]
References
- ^ a b c d e f g "Seadrill Limited (SDRL) - Fourth quarter 2015 results" (PDF). February 25, 2016.
- ^ Seadrill: Fleet Status Report
- ^ "Billionaire John Fredriksen Bets $33.5 Million More on Seadrill's Recovery". Motley Fool. December 9, 2014.
- ^ Seadrill Limited Consolidated and Predecessor Financial Statements for the Periods Ending December 31, 2005 and 2004
- ^ "Viking Attacks". Forbes. April 19, 2006.
- ^ "Seadrill Now Controls Nearly All Eastern Shares, Votes". RigZone. May 21, 2007.
- ^ "Seadrill beats Ensco in Scorpion battle". Reuters. May 28, 2010.
- ^ "North Atlantic Drilling Ltd. Announces Pricing of its Initial Public Offering of its Common Shares". January 28, 2014.
- ^ "Norway's Seadrill says to remain top NADL owner". Reuters. May 26, 2014.
- ^ "SapuraKencana Buys $2.9 Bln Worth of Tender Rigs from Seadrill". Offshore Energy Today. February 11, 2013.
- ^ "Seadrill Limited sells the tender rig T15 to Seadrill Partners LLC". Reuters. May 7, 2013.
- ^ "Seadrill Gains Majority Control of Sevan Drilling". Rigzone. June 27, 2013.
- ^ Heirs Holdings invests in Seadrill for Nigerian offshore projects, Oil Review Africa, August 30, 2013
- ^ "Seadrill Plunges on Dividend Suspension as Rig Market Sours". Bloomberg. November 26, 2014.
- ^ "Six years after the Montara oil spill, those who suffered most still seek compensation". News.com.au. August 31, 2015.
