en.Wedoany.com Reported - Offshore drilling company Seadrill has secured new contracts and extensions in Brazil, the U.S. Gulf of Mexico, and Angola, adding over $860 million in new contract value. According to the company's latest fleet status report, these contracts bring the total project portfolio to $3.1 billion.

In Brazil, the 2008-built drillship West Polaris was awarded a three-year contract extension with Petrobras, with the new contract period commencing in January 2028, expected to add approximately $480 million in backlog. The 2015-built drillship West Carina had its contract in Brazil extended to June 2026.

In the U.S. Gulf of Mexico, the drillship West Neptune secured a 365-day contract extension with LLOG (a subsidiary of Harbour Energy), with operations expected to commence in October 2026; the drillship West Vela was awarded a 270-day contract, expected to begin in September 2026. These two contracts add $260 million to the backlog.

In Angola, the drillship Sonangol Quenguela received a contract extension of approximately 480 days from TotalEnergies, with work continuing through July 2028.

In the first quarter of 2026, Seadrill reported a net loss of $7 million and adjusted EBITDA of $97 million. At quarter-end, total principal debt stood at $625 million, with cash and cash equivalents of $329 million, resulting in net debt of $296 million.

Seadrill raised its full-year 2026 total operating revenue guidance to between $1.43 billion and $1.48 billion (previously $1.40 billion to $1.45 billion), excluding $50 million in reimbursable revenue. The company maintained its long-term capital and maintenance investment estimate at between $200 million and $240 million.

Seadrill Chairman and CEO Samir Ali stated: "Seadrill delivered robust financial and operational performance, including the completion of two major projects on time and on budget. These achievements, combined with recent commercial successes, enhance visibility for earnings growth and free cash flow generation through the second half of 2026 and into 2027." He added: "Growing customer demand for deepwater rigs across multiple regions, coupled with a renewed global focus on energy security, leads us to see positive momentum in dayrates driven by favorable factors through 2027."

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