Seadrill Limited ( (SDRL) ) has released its Q2 earnings. Here is a breakdown of the information Seadrill Limited presented to its investors.
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Seadrill Limited is a leading company in the deepwater oil and gas drilling sector, known for its modern fleet and advanced technologies. In its second quarter of 2025, Seadrill reported a net loss of $42 million but achieved an Adjusted EBITDA of $106 million, highlighting a significant improvement from the previous quarter. The company also announced new contract awards for its rigs, West Vela and Sevan Louisiana, in the U.S. Gulf, contributing to a robust order backlog of approximately $2.5 billion.
The financial performance for the second quarter showed an increase in total operating revenues to $377 million, driven by a rise in contract revenues due to improved economic utilization and increased operating days for certain rigs. However, operating expenses also rose, primarily due to management contract expenses following an unfavorable legal judgment. Despite this, Seadrill maintained a strong cash position with $419 million in cash and a net leverage of 0.77.
Seadrill’s strategic focus on securing new contracts is evident with the West Vela securing a two-well contract and the Sevan Louisiana commencing a three-well contract. These developments are expected to enhance the company’s market position and provide access to a broader spectrum of work opportunities.
Looking ahead, Seadrill’s management remains optimistic about delivering long-term shareholder value. With a disciplined approach to contracting and a robust balance sheet, the company is well-positioned to capitalize on improving market conditions and expand its operational footprint.