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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Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.
Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.
Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.
Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years