Seadrill Grows Contract Backlog by $200 Million

Seadrill Limited has announced its second quarter 2026 results, highlighting contract awards and extensions in the U.S. Gulf and Malaysia, adding approximately $200 million to its contract backlog subsequent to the May fleet status report.

West Vela was awarded a one-year contract in the U.S. Gulf, commencing in June 2027 and adding approximately $161 million to the contract backlog, excluding additional services.

West Capella secured a contract extension in Malaysia. The additional term is for an estimated 75 days and adds approximately $26 million to the contract backlog, excluding additional services, committing the rig into August 2027.

Sevan Louisiana added approximately 45 days in direct continuation of its prior program, committing the rig in the U.S. Gulf into August 2026.

The company reported a net income of $29 million, adjusted EBITDA of $144 million and increased full year 2026 total operating revenues and adjusted EBITDA guidance ranges as follows:

• Total operating revenues range increased to $1.50 - $1.55 billion (previously $1.43 - $1.48 billion), excluding $50 million of reimbursable revenues;

• Adjusted EBITDA range increased to $420 - $450 million (previously $370 - $420 million);

• Capital Expenditure and Long-Term Maintenance range maintained at $200 - $240 million.

“Seadrill’s second