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Seadrill to refrain from ordering new rigs until market clearer
August 27, 2014 / 7:37 AM / in 3 years

Seadrill to refrain from ordering new rigs until market clearer

OSLO, Aug 27 (Reuters) - Seadrill, the world’s biggest offshore driller by market capitalisation, said it would refrain from ordering new rigs until the market became clearer to read, as it reported April-June net earnings above forecasts on Wednesday.

Seadrill, the crown jewel in shipping tycoon John Fredriksen’s business empire, said its second-quarter net profit came in at $653 million, above forecasts for $502 million in a Reuters poll of analysts, down from the $1.75 billion it posted at the same time a year ago. (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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