November 27, 2018 / 6:17 AM / 14 days ago

CORRECTED-BRIEF-Seadrill Q3 EBITDA $46 mln, sees lower EBITDA in Q4

(Adds missing “mln” in third bullet point)

Nov 27 (Reuters) - Seadrill Ltd:

* BACKLOG OF APPROXIMATELY $2.1 BLN

* HAVING RESTRUCTURED OUR BUSINESS, WE ARE NOW WELL POSITIONED TO CAPITALIZE ON RECOVERY

* FUNDAMENTALS FOR OUR INDUSTRY REMAIN STRONG AND THERE ARE IMPROVING SIGNS THROUGH INCREASED CONTRACTING ACTIVITY, ADDITIONAL SUPPLY LEAVING MARKET AND INDUSTRY CONSOLIDATION WHICH SHOULD LEAD TO BETTER PRICING IN FUTURE

* WE ARE ALREADY STARTING TO SEE RATE IMPROVEMENTS FOR CONTRACTS STARTING IN 2019/20

* CONTINUED FOCUS ON COST REDUCTION

* WE REMAIN DISCIPLINED IN OUR APPROACH TO CONTRACTING AND WILL NOT BE DRAWN INTO LONG TERM CONTRACTS AT LOW DAY-RATES GIVEN OUR FINANCIAL FLEXIBILITY

* ADJUSTED EBITDA FOR THE FOURTH QUARTER IS EXPECTED TO BE LOWER THAN THE THIRD QUARTER ADJUSTED EBITDA AT AROUND $35 MILLION

Source text for Eikon: Further company coverage: (Reporting By Ole Petter Skonnord)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below