REG-SFL – Ruling from Borgarting Court of Appeal in the Seadrill Legal Case
Globe Newswire•13/10/2026•16:15 ET
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Key Highlights
- ➤Seadrill ordered to pay SFL approximately NOK 525 million, including compensation, interest and legal costs
- ➤Borgarting Court of Appeal unanimously found Seadrill breached the Hercules redelivery contract
- ➤Judgment largely upholds February 2025 Oslo District Court ruling, with accrued interest increasing payment
- ➤Either party may appeal to Norway’s Supreme Court within one month of judgment service
SFL Corporation Ltd. ("SFL" or the “Company”) (NYSE: SFL) today announces that Borgarting Court of Appeal has delivered its judgment in the legal case between SFL’s rig-owning subsidiary and certain subsidiaries of Seadrill Ltd. (“Seadrill”), following the redelivery of the drilling rig Hercules to SFL in December 2022.
In a unanimous judgment, the Court of Appeal found that Seadrill breached the contract when redelivering the rig. It ordered Seadrill to pay SFL’s subsidiary a total of approximately NOK 525 million (approximately $55 million), including compensation, late payment interest and legal costs.
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