Seadrill takes $1.2 billion impairment and moves to ditch NYSE listing

OFFSHORE ENERGY | Offshore drilling contractor Seadrill booked a huge loss in the first quarter of the year due to impairment charges amid a significant reduction in global oil demand. In addition, Seadrill has decided to delist from NYSE and focus solely on its Oslo listing.

Seadrill’s revenue in 1Q 2020 was $321 million with a lower proportion of reimbursable revenues, down 19 per cent from revenues of $398 million in 4Q 2019.

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