Seadrill Q1 Revenues Rise 17% Q/Q, Reports Near-Fully Utilized Fleet
Portfolio Pulse from Lekha Gupta
Seadrill Limited reported Q1 2023 operating revenue of $266 million, a 17% increase Q/Q, with a technical utilization of 96%. The company added $39 million of order backlog during the quarter, totaling $2.2 billion. Seadrill completed the acquisition of Aquadrill last month, adding $470 million in order backlog.
May 23, 2023 | 12:53 pm
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Seadrill's Q1 2023 revenue increased by 17% Q/Q, with a technical utilization of 96%. The acquisition of Aquadrill added $470 million in order backlog, strengthening the company's position in the offshore drilling sector.
Seadrill's Q1 2023 revenue growth and the acquisition of Aquadrill indicate a positive outlook for the company. The increased order backlog and technical utilization suggest strong demand for Seadrill's services, which could lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100