Seadrill sees increased contracting activity in deepwater market

Offshore drilling contractor Seadrill has posted a quarterly loss but it says it sees improvement in deepwater drilling contracting activity. The company has also revealed it has secured more work for its rigs.

Seadrill on Thursday posted a net loss $296 million, on total operating revenues of $302 million for the first quarter of the year, compared to previous year’s loss of $203 million.

The numbers look better when compared to the previous quarter (4Q 2018) where Seadrill had posted a net loss of $360 million on Total operating revenues of $292 million.

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