4 May 2024
Bankruptcy beckons for Seadrill as debt pile grows and rescue plan stalls
Publication date: 25 August 2017
Gas Strategies Group
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ISSN: 0964-8496
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Debt-laden offshore drilling contractor Seadrill is headed for chapter 11 bankruptcy next month, the London-based company said this week as it posted a Q2 loss of USD 100 million, weighing on its existing USD 11 billion debt.
Seadrill has been scrambling for a bailout since the start of the year, stating in February that it was looking to implement a restructuring plan to raise ...