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25.02.2016 08:01:58
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SDRL - Seadrill Limited Announces Fourth Quarter 2015 Results
Highlights
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Revenue of $959 million
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EBITDA of $513 million
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93% economic utilization
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Reported Net Income of $279 million and diluted earnings per share of $0.58
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Cash and cash equivalents of $1.04 billion
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The Seadrill Group achieved 95% economic utilization
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Seadrill Group orderbacklog of approximately $10.7 billion
Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:
"During the fourth quarter we experienced our best operational quarter of the year, while continuing to reduce our cost base. Safe and efficient operations remain at the heart of what we do as we continue to drive down costs.
In the face of the severe downturn in our industry our priorities for 2016 are to conserve cash and address our financing needs. We have a modern competitive fleet, a proven track record in operations and every intention to position ourselves for a recovery in the sector.
Our 2016 liquidity is good and we aim to communicate our funding plans during the first half of the year."
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via Globenewswire
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