Seadrill today said it achieved “record operational uptime” in the first quarter of the year.
The firm recorded a turnover of $891million. Its current cash and equivalents stand at $1.09billion. Its order backlog totals $9.1billion.
Chief executive Per Wulf said: “During the first quarter we achieved record operational uptime and we continue to see the benefits of our cost reduction program coming through.
“Our key priorities for the year are cost reduction, managing newbuild deferments and concluding our financing plans, while ensuring that we continue to maintain safe and efficient operations. I am pleased to say we have made good progress in all three areas during the first quarter.”
Earlier this month, Seadrill struck a deal with senior note holders worth $55million. It was the firm’s latest financial maneuver before its $3billion of debt comes dues.