SEADRILL Ltd

2020-2022: Delisting and return

The record for these years is mostly about where Seadrill's shares were listed. On 11 June 2020 its securities were notified for removal from listing and registration on its exchange. The share count was about 100 million at the end of 2020 and 2021, and the beats do not explain the earlier change from about 504 million at the end of 2017 to 100 million at the end of 2018.

On 23 February 2022 the company suspended its duty to file periodic reports with the SEC, the US market regulator. On 12 October 2022 the exchange certified its securities for listing, clearing them to begin trading. The filings do not explain how the 2020 delisting relates to the later NYSE listing. The share count was about 50 million at the end of 2022 and about 73.7 million at the end of 2023, and the beats do not explain these moves.

2023-2026: Refinancing

The record is quiet for the years after 2022 until mid-2026. By then Seadrill was a Bermuda company headquartered in Houston, Texas. It had become a U.S. domestic filer from 1 January 2025, closed its London office and consolidated offices in Houston. The share count was about 62.4 million at the end of 2025.

On 16 June 2026 it agreed to amend a revolving credit facility, a borrowing line first dated 11 July 2023. Commitments rose from $225 million to $300 million, and maturity moved from 2028 to 2031. Some immaterial subsidiaries and stacked vessels, meaning idle ones, were removed as guarantors and collateral, and some covenants were loosened.

On 30 June 2026 subsidiary Seadrill Finance issued $700 million of 6.750% Senior Notes due 2034, guaranteed by the company. Part of the proceeds was deposited to redeem all of the 8.375% Second Lien Notes due 2030, about $575 million outstanding at 31 March 2026, which discharged that indenture. The revolver amendment took effect the same day, and the facility was undrawn.