Profits at international drilling giant Seadrill rose 14% for the third quarter.
The John Fredriksen-owned firm posted operating profits of £290million, up 14% year on year but down from the £313million made during the second quarter.
Higher operating expenses following the consolidation of Sevan Drilling and its rigs contributed to the quarterly drop.
But the company said it was looking to a strong future with five potential contracts lined up in Mexico for early 2014.
Seadrill said its order backlog had now reached more than £12billion, not including those deals, which would have a cumulative duration of more than 30 years.
“The pace of contract additions has undoubtedly slowed from the pace seen in 2012 as customers re-evaluate spending plans,” the company said.
“The board is confident… this is a momentary pause before oil companies restart their spending.”
The company earlier this month announced plans to begin listing extreme conditions arm North Atlantic Drilling on the New York Stock Exchange.