Seadrill announces that it has completed its acquisition of Aquadrill As a result of the transaction, Aquadrill became a wholly owned subsidiary of Seadrill. In connection with the completion of the transaction, Seadrill issued an aggregate 29,866,505 common shares to former Aquadrill unitholders and equity award holders, resulting in issued share capital of $798,665.03 divided into a total of 79,866,503 Seadrill common shares, each with a par value of $0.01, validly issued, and fully paid and non-assessable.
The acquyisition was announced in December 2022.
The combination creates an industry-leading offshore drilling company, with a modern and high specification fleet. The Company will have a streamlined cost structure and will be well-positioned for further growth given its stronger credit and liquidity profile, providing attractive cash flows.
Seadrill will be in a strong position to serve a broader range of customers, with one of the youngest and most technologically advanced fleets in the industry, and a combined backlog of $2.6 billion. The Company will own 12 floaters (including seven 7th generation drillships), three harsh environment rigs, four benign jack-ups, and three tender-assisted rigs. Additionally, seven rigs will be managed under strategic partnerships.
(Source: Seadrill – Image: Sevan Louisiana/Aquadrill)