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Seadrill Limited
Publicly traded limited company
Industry Oilfield services
Founded 2005
Headquarters Hamilton, Bermuda
Key people
John Fredriksen (Chairman), Per Wulff (CEO)
Products Drilling rig lease and operation
Revenue Decrease US $4.335 billion (2015)[1]
Decrease US$1.019 billion (2015)[1]
Profit Decrease -US$750 million (2015)[1]
Total assets Decrease US$23.470 billion (2015)[1]
Total equity Decrease US$9.371 billion (2015)[1]
Number of employees
Approximately 9,000 (2015)[1]

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[edit]

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]

Scorpion Offshore[edit]

Scorpion Offshore (OSE: SCORE) is an international jackup drilling rig operator that through May 2007 to November 2008 will take delivery of five rigs from KEPPEL AmFELS yard in Brownsville, Texas, United States.

The company was founded on April 22, 2005 and registered on Bermuda with an initial equity of USD 111 million. Main offices are located in Houston. On September 2, 2005 Scorpion was listed on the Oslo Stock Exchange OTC, with full listing on December 2. On November 3, 2006 the first vessel, Offshore Courageous, was delivered.

In 2010, drilling rig operators Seadrill and Ensco made take-over bids to acquire Scorpion Offshore.[4] On 31 May 2010 Ensco abandoned its bid after Seadrill raised its bid to Nkr40.50 ($6.26) per share. Seadrill already owns about 40% of Scorpion Offshore.[5]


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. [6]

In September 2006, it purchased a controlling share of Smedvig by outbidding Noble Energy. [7]

In 2007, Seadrill acquired Eastern Drilling.[8]

In May 2010, Seadrill outbid Ensco plc for Scorpion Offshore, valuing the company at $567 million.[9]

In 2014, Seadrill conducted an initial public offering of its North Atlantic Drilling subsidiary, which owns harsh environment rigs.[10] Seadrill continued to own 70% of North Atlantic Drilling. [11]

In 2013, the company sold the majority of its tender rig and semi-tender operation to SapuraKencana. [12]

The company also sold Tender rigs T-15, T16 and the West Vencedor to Seadrill Partners LLC. [13]

In June 2013, Seadrill acquired a majority interest in Sevan Drilling. [14]

In September 2013, a financial company, Heirs Holdings made a “substantial” investment in Seadrill’s Nigerian unit.[15]

In November 2014, the company suspended dividend payments as a result of a downturn in the industry. [16]


Bribery allegations[edit]

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[edit]

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. [17]


  1. ^ a b c d e f g "Seadrill Limited (SDRL) - Fourth quarter 2015 results" (PDF). February 25, 2016. 
  2. ^ Seadrill: Fleet Status Report
  3. ^ "Billionaire John Fredriksen Bets $33.5 Million More on Seadrill's Recovery". Motley Fool. December 9, 2014. 
  4. ^ "UPDATE 2-Ensco bids for Scorpion, trumps Seadrill offer". 27 May 2017 – via Reuters. 
  5. ^ "Seadrill forces Ensco out of Scorpion race". Upstream Online. NHST Media Group. 2010-05-31. Retrieved 2010-07-03. 
  6. ^ Seadrill Limited Consolidated and Predecessor Financial Statements for the Periods Ending December 31, 2005 and 2004
  7. ^ "Viking Attacks". Forbes. April 19, 2006. 
  8. ^ "Seadrill Now Controls Nearly All Eastern Shares, Votes". RigZone. May 21, 2007. 
  9. ^ "Seadrill beats Ensco in Scorpion battle". Reuters. May 28, 2010. 
  10. ^ "North Atlantic Drilling Ltd. Announces Pricing of its Initial Public Offering of its Common Shares". January 28, 2014. 
  11. ^ "Norway's Seadrill says to remain top NADL owner". Reuters. May 26, 2014. 
  12. ^ "SapuraKencana Buys $2.9 Bln Worth of Tender Rigs from Seadrill". Offshore Energy Today. February 11, 2013. 
  13. ^ "Seadrill Limited sells the tender rig T15 to Seadrill Partners LLC". Reuters. May 7, 2013. 
  14. ^ "Seadrill Gains Majority Control of Sevan Drilling". Rigzone. June 27, 2013. 
  15. ^ Heirs Holdings invests in Seadrill for Nigerian offshore projects, Oil Review Africa, August 30, 2013 
  16. ^ "Seadrill Plunges on Dividend Suspension as Rig Market Sours". Bloomberg. November 26, 2014. 
  17. ^ "Six years after the Montara oil spill, those who suffered most still seek compensation". August 31, 2015.