SEADRILL Ltd

Seadrill Limited (NYSE: SDRL) is a global offshore drilling contractor providing worldwide drilling services to the oil and gas industry. The company operates through the ownership and operation of drillships and semi-submersible rigs for operations in shallow to ultra-deepwater environments in both benign and harsh conditions. Seadrill contracts its drilling units to customers on a dayrate basis, with customers bearing substantially all ancillary costs and most economic risk relative to well success.

As of December 31, 2025, Seadrill owned fifteen drilling units, of which ten were operating, one was undergoing capital upgrade projects, one was undergoing repairs and maintenance, and three were cold stacked. The operating fleet comprises nine benign floaters, including six seventh-generation drillships, two sixth-generation drillships, and one benign environment semi-submersible, plus one harsh environment jackup. The company also managed two drilling units owned by Sonangol. The fleet is composed entirely of drilling units delivered after 2007, positioning Seadrill among operators of technologically advanced assets.

Seadrill's customer base includes oil super-majors, state-owned national oil companies, and independent oil and gas companies. In 2025, Petrobras represented 36 percent of revenues, Sonadrill 22 percent, Talos 11 percent, and LLOG 10 percent, with others comprising 21 percent. The company employs approximately 3,000 people globally across multiple locations where oil and gas activities are conducted.

The company emerged from Chapter 11 bankruptcy on February 22, 2022, with Seadrill Limited becoming the ultimate parent holding company. The company relisted on the New York Stock Exchange in October 2022 under ticker symbol SDRL and subsequently delisted from the Oslo Stock Exchange in September 2024.

Seadrill's strategy focuses on operational excellence, fleet and portfolio strength, customer partnership and growth, and people and performance. The company maintains a competitive fleet through targeted investments and technical enhancements while emphasizing safety, reliability, and cost efficiency. Visit www.seadrill.com for additional information.