Seadrill Announces Third Quarter 2026 Results
Business Wire•03/11/2026•16:15 ET
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Key Highlights
- ➤Contract awards and extensions added approximately $800 million of Total Contract Value.
- ➤Third-quarter Free Cash Flow reached $179 million.
- ➤Third-quarter net loss was $30 million, including a legal provision.
- ➤2026 revenue guidance increased to $1.56-$1.58 billion, excluding $90 million reimbursable revenues.
- ➤2026 Adjusted EBITDA guidance increased to $440-$460 million.
Expert Statements
Samir Ali, President and Chief Executive Officer of Seadrill
“Seadrill generated $179 million of Free Cash Flow in the third quarter, delivering on our commitment to convert backlog into cash. Over 85% of available drillship days are now contracted in 2027, further enhancing visibility into next year’s earnings and cash flow. The West Carina award secures the third and final repricing of three legacy contracts, with the improved dayrate effective in 2027. A healthy tender pipeline and growing deepwater demand reinforce our confidence in the market outlook, positioning Seadrill to build on these commercial achievements and capture further upside.”
Seadrill Limited (“Seadrill” or the “Company”) (NYSE: SDRL) today announced its third quarter 2026 results.
* Secured contract awards and extensions in Indonesia, Malaysia, Angola, and the U.S. Gulf, adding approximately $800 million of Total Contract Value((1) )subsequent to the August fleet status report.
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