In April, the company reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until July 31, 2017, reflecting significant progress on the terms of such restructuring made with the bank group, Seadrill said in its first quarter 2017 report on Wednesday.
The company also said it is now in advanced discussions with certain third party and related party investors and its secured lenders on the terms of a comprehensive recapitalization. Further, the company is in receipt of a proposal from the third party and related party investors which remains subject to further negotiation, final due diligence and documentation.
Brazil Energy Insight 
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