Seadrill Q4 profit misses on poor deepwater operations

COPENHAGEN Thu Feb 28, 2013 10:19am EST

COPENHAGEN Feb 28 (Reuters) - Offshore oil driller Seadrill underperformed already lowered expectations in the fourth quarter and said it would review its deepwater operations after its poor performance for the second quarter in a row, it said on Thursday.

The Oslo-listed firm posted earnings before interest, taxes, depreciations and amortisation (EBITDA) of $604 million in the October-December period, up from $575 million in year-ago period and below the mean forecast of $619 million in a Reuters poll of analysts.

The company warned on Jan. 31 that it had suffered unexpected downtime for its deepwater rigs in the fourth quarter while administrative costs were above historic norms.

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