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Seadrill achieved a turnover of $ 249 million in the third quarter, or NOK 2.1 billion. The company, however, realized operating profit of $ 106 million, which, at the current exchange rate, is close to 894 million.
The adjusted amount before taxes, interest, depreciation and write-downs (EBITDA) amounted to $ 46 million, or € 388 million. The company says it has an order backlog of about $ 2.1 billion, up $ 296 million since the end of the second quarter.
The editing company reported a net loss of $ 245 million, or about NOK 2 billion.
See rates increased already next year
"After the restructuring, we are now well positioned to capitalize on the market's return," said Anton Dibowitz, CEO of Seadrill.
He considers that the combination of a strong cash position, a maturity close to borrowings, slight financial obligations and a large and modern fleet is an asset for the company to continue to be competitive. .
"The fundamentals of the industry remain strong and we are seeing signs of improvement thanks to increased contract activity, reduced supply and a number of consolidations in the industry. Ultimately, this will lead to better prices in the future, says Dibowitz in his message.
Seadrill is already planning a rate increase for start-up contracts in 2019 and 2020.
"We will continue to be disciplined and not enter into long-term contracts for low daily rates," concludes Dibowitz.
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