Seadrill Limited Announces First Quarter 2019 Results

Highlights

• Revenue of $302 million
• Operating loss of $71 million
• Adjusted EBITDA of $72 million
• 93% economic utilization
• Reported net loss of $296 million and net loss per share of $2.95
• Total cash of $1.9 billion
• Seadrill Limited order backlog of approximately $1.9 billion
• $130 million added to backlog since our last earnings report in February

Anton Dibowitz, CEO, commented:

"We continue to see increased contracting activity in the deepwater market, in many instances with improved contract terms such as mobilization payments and certain capex being paid for by the customer. While the spot market for short term work remains competitive, we are starting to see improvements in rates for longer term work.

Our recent announcements relating to opportunities in Angola and Qatar position us well for work in these regions and we are excited by the prospect."

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

Seadrill Partners 1Q 2019 Fleet Status (http://hugin.info/135817/R/2245050/886725.pdf)
Seadrill Limited 1Q 2019 (http://hugin.info/135817/R/2245050/886739.pdf)

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via Globenewswire