SEADRILL NET INCOME DOWN 80%
- Revenue of $891 million
- EBITDA of $528 million
- 96% economic utilization
- Reported Net Income of $88 million and diluted earnings per share of $0.15
- Cash and cash equivalents of $1.09 billion
- The Seadrill Group achieved 97% economic utilization
- Seadrill Group orderbacklog of approximately $9.1 billion
Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said
"During the first quarter we achieved record operational uptime and we continue to see the benefits of our cost reduction program coming through.
Our key priorities for the year are cost reduction, managing newbuild deferments and concluding our financing plans, while ensuring that we continue to maintain safe and efficient operations. I am pleased to say we have made good progress in all three areas during the first quarter."
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WNN - Asia needs nuclear energy to meet its economic, energy and environmental goals, but such plans are still in the development phase in the South East region of the continent, Agneta Rising, director general of World Nuclear Association, said.
NPD - Preliminary production figures for February 2018 show an average daily production of 1 944 000 barrels of oil, NGL and condensate, which is a decrease of 83 000 barrels per day compared to January.
AOG - China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with Abu Dhabi National Oil Company (ADNOC).
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.69 a barrel at 0744 GMT, up 15 cents, or 0.2 percent, from their previous close. Brent crude futures LCOc1 were at $67.56 per barrel, up 14 cents, or 0.2 percent.