SEADRILL NET INCOME $334 MLN
- Revenue of $868 million
- Operating income of $364 million
- EBITDA of $557 million
- 98% economic utilization
- Reported Net Income of $276 million and diluted earnings per share of $0.52
- Cash and cash equivalents of $1.3 billion
- The Seadrill Group achieved 99% economic utilization
- Seadrill Limited orderbacklog of approximately $3.6 billion; Seadrill Group $8.0 billion
Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:
"During Q2 2016 we have improved on the record uptime we achieved in Q1, reaching 98% economic utilization, whilst continuing to see our costs reduce quarter over quarter.
There continues to be a significant supply overhang and the market conditions remain challenging, however, there is some volume returning to the spot market, although primarily for short term work. Our priorities for the remainder of the year continue to be delivering safe and efficient operations for our customers whilst concluding on our financing plans."
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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.