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SDRL - Seadrill New Finance Limited Announces Replacement of Forbearance Agreement

Hamilton, Bermuda, 19 April, 2021 – Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company, has agreed to replace the existing forbearance agreement announced on 11 February 2021, and extended on 23 February 2021, 9 March 2021 and 23 March 2021 with a new forbearance agreement, with respect to the 12.0% senior secured notes due 2025 (the “Notes”) with certain holders of the Notes (the “Note Holders”). Pursuant to the new forbearance agreement, the consenting Note Holders have agreed

SDRL - Seadrill New Finance Limited Announces Extension of Forbearance Agreement

Hamilton, Bermuda, 23 March, 2021 – Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company, has agreed to extend the existing forbearance agreement announced on 11 February 2021, and extended on 23 February 2021 and 9 March 2021, with respect to the 12.0% senior secured notes due 2025 (the “Notes”) with certain holders of the Notes (the “Note Holders”). Pursuant to the forbearance agreement, as extended, the consenting Note Holders have agreed not to exercise any enforcement rights

SDRL - Filing of 2020 Annual Report on Form 20-F

Hamilton, Bermuda, March 19, 2021 - Seadrill Limited ("Seadrill or the Company") announces that it has filed its annual report on Form 20-F for the year ended December 31, 2020 with the Securities and Exchange Commission in the U.S. The report can be accessed on the website of the U.S. Securities and Exchange Commission, www.sec.gov and at www.seadrill.com. Shareholders may also request a hard copy of the Annual Report, which includes the Company's complete 2020 audited financial statements, free of charge, by sending an email to: seadrill@hawthornadvisors.com. This information is

Seadrill New Finance Limited Announces Extension of Forbearance Agreement

Hamilton, Bermuda, 9 March, 2021 – Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company, has agreed to extend the existing forbearance agreement announced on 11 February 2021, and extended on 23 February 2021, with respect to the 12.0% senior secured notes due 2025 (the “Notes”) with certain holders of the Notes (the “Note Holders”). Pursuant to the forbearance agreement, as extended, the consenting Note Holders have agreed not to exercise any enforcement rights with respect to the

Seadrill Limited (SDRL) - Second Half 2020 Results

Hamilton, Bermuda, March 4, 2021 - Seadrill Limited (“Seadrill” or "the Company") (OSE:SDRL, OTCQX:SDRLF), a world leader in offshore drilling, announces a commercial update for the fourth quarter of 2020 and provides financial results for the six-month period ended December 31, 2020. Highlights · Technical utilization[1] of 96% and economic utilization[2] of 94%. · Total backlog stands at $1.9 billion with approximately $50 million added during the quarter. · Cash and cash equivalents as at December 31, 2020 of  $723 million of which $526 million was unrestricted. · Non-

SDRL - Seadrill New Finance Limited Announces Extension of Forbearance Agreement

Hamilton, Bermuda, February 23, 2021 – Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company, has agreed to extend the existing forbearance agreement announced on 11 February 2021 with respect to the 12.0% senior secured notes due 2025 (the “Notes”) with certain holders of the Notes (the “Note Holders”). Pursuant to the forbearance agreement, as extended, the consenting Note Holders have agreed not to exercise any enforcement rights with respect to the Issuer and any subsidiary of the

Seadrill New Finance Limited Announces Forbearance Agreement

Hamilton, Bermuda, February 11, 2021 – Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company incorporated in Bermuda in 2018 and issuer of the 12.0% senior secured notes due 2025 (the “Notes”), has entered into a forbearance agreement with certain holders of the Notes. Pursuant to the forbearance agreement, the consenting creditors have agreed not to exercise any enforcement rights with respect to the Issuer and any subsidiary of the Issuer which is an obligor under the Notes to, or

Seadrill Limited (SDRL): Filing of Chapter 11 Cases for Seadrill

Hamilton, Bermuda, February 10, 2021 – The Board of Seadrill Limited (“Seadrill” or the "Company") (OSE: SDRL, OTCQX:SDRLF) today announces that Chapter 11 cases have been filed in the Southern District of Texas in respect of Seadrill and its consolidated subsidiaries (the "Seadrill Group") with the exceptions set out below. These filings are made in addition to the Chapter 11 cases filed separately for Seadrill GCC Operations Ltd, Asia Offshore Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited, as announced by the Company on February 7,

Seadrill Limited (SDRL): Asia Offshore Drilling Chapter 11 Filing

Hamilton, Bermuda, February 7, 2021 – The Board of Seadrill Limited (“Seadrill” or the "Company") (OSE: SDRL, OTCQX:SDRLF) today announces that Chapter 11 cases have been filed in the Southern District of Texas in respect of Seadrill's wholly-owned subsidiaries Seadrill GCC Operations Ltd, Asia Offshore Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited (jointly, the "AOD Companies"). The Chapter 11 cases were filed as a protective measure to support Seadrill’s broader comprehensive financial restructuring and will in no way affect

SDRL - Seadrill Announces Forbearance Agreement

Hamilton, Bermuda, 3 February 2021 – Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) announces that it has entered into a forbearance agreement with certain creditors in respect of nine out of the group's twelve senior secured credit facility agreements. The purpose of the forbearance agreement is to allow the Company and its stakeholders more time to finalise negotiations on the head terms of a comprehensive restructuring of its balance sheet. Such a restructuring may involve the use of a court-supervised process. The Company continues to evaluate capital

SDRL - Seadrill Announces Expiry of Forbearance Agreements

Hamilton, Bermuda, 29 January 2021 – Reference is made to the announcements by Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) on 30 December 2020 regarding forbearance agreements entered into by the Company with certain creditors in respect of the group's senior secured credit facility agreements. The term of the forbearance agreements expired on 29 January 2021, and, accordingly, the creditors with whom forbearance agreements were entered into are no longer prevented from taking actions in respect of events of default that may arise under the senior secured

Seadrill New Finance Limited – non-payment of cash interest

Hamilton, Bermuda, January 15, 2021 (OSE:SDRL, OTCQX:SDRLF) Seadrill New Finance Limited, a company incorporated in Bermuda in 2018 and issuer of the 12.0% senior secured notes due 2025 (the “Notes”), has determined not to make the semi-annual 4% cash interest payment due to the senior secured noteholders on 15 January 2021 in respect of their Notes issued pursuant to the terms of the notes indenture dated 2 July 2018. The payment-in-kind (PIK) interest payment is being made in the ordinary course. Discussions continue between Seadrill Limited and its creditors and/or their advisers

SDRL - Seadrill Announces Forbearance Agreement

Hamilton, Bermuda, 30 December 2020 – Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) announces that it has entered into a forbearance agreement with certain creditors in respect of nine out of the group's twelve senior secured credit facility agreements. The purpose of the forbearance agreement is to allow the Company and its stakeholders more time to finalise negotiations on the head terms of a comprehensive restructuring of its balance sheet. Such a restructuring may involve the use of a court-supervised process. The Company continues to evaluate capital

Seadrill Limited (SDRL): AOD Cash Utilisation

Hamilton, Bermuda, December 16, 2020 – The Board of Seadrill Limited (“Seadrill” or the "Company") (OSE: SDRL, OTCQX:SDRLF) has been informed that the lenders in the AOD facility (under which Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited are borrowers) have utilised $97.2 million of AOD's cash contained in restricted accounts secured against their facility to repay a corresponding amount of the $210 million debt outstanding as of today. This leaves $112.8 million of such debt outstanding going forward. The AOD facility maintains sufficient cash to

SDRL - Seadrill Announces Expiry of Forbearance Agreements

Hamilton, Bermuda, 14 December 2020 – Reference is made to the announcements by Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) on 20 November 2020 regarding forbearance agreements entered into by the Company with certain creditors in respect of the group's senior secured credit facility agreements and leasing arrangements. The term of the forbearance agreements expired on 14 December 2020, and, accordingly, the creditors with whom forbearance agreements were entered into are no longer prevented from taking actions in respect of events of default that may arise

SDRL - Minutes from the Annual General Meeting 2020

Hamilton, Bermuda, December 4, 2020 - Seadrill Limited (the "Company") advises that the 2020 Annual General Meeting of the Shareholders of the Company was held on December 3, 2020 at 11:00 a.m., at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2019 were presented to the Meeting. In addition, the following resolutions were passed: 1. To re-elect Directors as follows: · · Birgit Aagaard-Svendsen; · Herman Flinder. 2. To re-appoint

SDRL – Cleansing Materials

Hamilton, Bermuda, November 20 2020 - The attached cleansing materials in relation to Seadrill Limited's (the “Company”) ongoing comprehensive restructuring process, in particular relating to the 2025 12.0% Senior Secured Notes due 2025 issued by Seadrill New Finance Limited, are made available to the public. The comprehensive restructuring process is in respect of certain wholly owned Seadrill entities including Seadrill New Finance Limited and does not include the Company’s non-consolidated affiliates, including Seadrill Partners LLC, SeaMex Ltd., Archer Limited, Seabras Sapura and

SDRL - Seadrill Announces Forbearance Agreements

Hamilton, Bermuda, November 20, 2020 - Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) announces that it has entered into forbearance agreements with certain creditors in respect of the group's senior secured credit facility agreements, as well as the leasing agreements for the West Hercules, West Linus and West Taurus. Pursuant to the forbearance agreements, the consenting creditors have agreed not to exercise any voting rights to, or otherwise take actions, in respect of certain events of default that may arise under the senior secured credit facility agreements

Seadrill Limited (SDRL) - Third Quarter 2020 Trading Update

Highlights · Technical utilization[1] of 94% and economic utilization[2] of 92% · Total backlog stands at $2.1 billion · Cash and cash equivalents as at September 30, 2020 was $851m · Stuart Jackson appointed Chief Executive Officer · The role and responsibilities of the Chief Financial Officer are now divided into two new roles: Grant Creed is Chief Restructuring Officer and Neil Gilliver is Chief Accounting Officer Subsequent Events · Following quarter end, approximately $52 million of backlog added: · The Sevan Louisiana was awarded a one firm, plus one

SDRL - Notice of change to Seadrill's financial calendar

Hamilton, Bermuda, November 1, 2020 - Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) announces that its financial calendar for 2020 is revised to reflect that the Annual General Meeting of the Company is postponed from 19 November 2020 to 3 December 2020. For further information, please contact: Media questions should be directed to: Iain CracknellDirector of Communications+44 (0)7765 221 812 Analyst questions should be directed to: Hawthorn Advisors+44 (0)203 7454960seadrill@hawthornadvisors.com This information is subject of the disclosure

SDRL - Seadrill Announces Expiry of Forbearance Agreements

Hamilton, Bermuda, 1 November 2020 – Reference is made to the announcements by Seadrill Limited ("Seadrill" or the "Company") (OSE:SDRL, OTCQX:SDRLF) on 15 and 29 September 2020 regarding forbearance agreements entered into by the Company with certain creditors in respect of the group's senior secured credit facility agreements, senior secured notes, and guarantee facility agreement. The term of the forbearance agreements expired on 31 October 2020, and, accordingly, the creditors with whom forbearance agreements were entered into are no longer prevented from taking actions in respect of

SDRL – Cleansing announcement – restructuring process

Hamilton, Bermuda, September 13, 2020 - Certain of the new secured noteholders (the “NSNs”) approached Seadrill Limited (the “Company”) to discuss the possibility of extinguishing the outstanding NSNs in exchange for certain secured collateral. The attached slides (the “Cleansing Materials”) detail certain proposals and counter-proposals between the Company and the NSNs since August 30 2020. Discussions between the Company and the NSNs remain ongoing and the description of the Cleansing Materials does not purport to be complete and is qualified in its entirety by the complete text of the

Seadrill Limited (SDRL) - Stuart Jackson appointed Chief Executive Officer

Hamilton, Bermuda, October 1, 2020 – The Board of Seadrill Limited (“Seadrill” or "the Company") (OSE:SDRL, OTCQX:SDRLF) is pleased to announce the appointment of Stuart Jackson as Chief Executive Officer.  · Stuart Jackson, currently Chief Financial Officer, will succeed Anton Dibowitz as Chief Executive Officer with immediate effect · Following Stuart’s appointment, the role and responsibilities of the Chief Financial Officer will be divided into two new roles: Grant Creed will become Chief Restructuring Officer and Neil Gilliver will become Chief Accounting Officer Glen Ole

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