SDRL - Seadrill Limited Announces Second Quarter 2016 Results

  • Revenue of $868 million 
  • Operating income of $364 million 
  • EBITDA of $557 million 
  • 98% economic utilization
  • Reported Net Income of $276 million and diluted earnings per share of $0.52
  • Cash and cash equivalents of $1.3 billion 
  • The Seadrill Group achieved 99% economic utilization
  • Seadrill Limited orderbacklog of approximately $3.6 billion; Seadrill Group $8.0 billion
Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:
"During Q2 2016 we have improved on the record uptime we achieved in Q1, reaching 98% economic utilization, whilst continuing to see our costs reduce quarter over quarter.
There continues to be a significant supply overhang and the market conditions remain challenging, however, there is some volume returning to the spot market, although primarily for short term work. Our priorities for the remainder of the year continue to be delivering safe and efficient operations for our customers whilst concluding on our financing plans."

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.