SDRL - Seadrill Limited Announces Third Quarter 2019 Results
Highlights · Lower economic utilization of 93% primarily due to the West Linus 5-year classing · Revenue up 14% at $367 million with increasing reimbursable revenues and more operating days · Operating Loss of $58 million · Adjusted EBITDA of $85 million, ahead of $70-75 million guidance · $302 million non-cash impairment in investments relating to Seadrill Partners · Net loss of $521 million equivalent to net loss per share of $5.21 · Total cash of $1.4 billion, slightly below the second quarter balance · Order backlog of $1.8 billion as at September 30, 2019