SDRL - Seadrill Limited Announces Fourth Quarter 2019 Results
Highlights · Revenue up 8% at $398 million with higher proportion of reimbursable revenues · Technical utilization of 97% and economic utilization of 93% · Operating Loss of $93 million · Adjusted EBITDA of $39 million, in line with guidance of $40 million · Net loss of $199 million equivalent to net loss per share of $1.99 · Strong order intake of $1.0 billion, resulting in total backlog of $2.5 billion at year end. · Closing cash of $1.4 billion Subsequent Events · Continued productive discussions with banking group regarding capital structure. ·