Seadrill (SDRL) Investor presentation summary

Financial highlights

• Market capitalization stands at $3 billion with a total backlog of $3 billion as of August 2026.

• Raised FY26 EBITDA guidance to $435 million, reflecting improved operational outlook.

• Leverage ratio is 0.9x, indicating prudent balance sheet management.

• Executed $20 million in opportunistic share repurchases year-to-date as of June 2026.

• FY 2026 operating revenue guidance increased to $1.50–1.55 billion, with adjusted EBITDA guidance at $420–450 million.

Operational performance and fleet

• Operates a marketed fleet of 14 rigs, including 12 drillships and 4 semi-subs, with 80% of drillships MPD equipped.

• Fleet is strategically positioned in the 'Golden Triangle,' covering key deepwater basins in the U.S. Gulf, Brazil, and West Africa.

• Achieved 97% technical utilization year-to-date 2026 and maintains world-class safety standards.

• Industry-leading MPD capabilities and AI-driven predictive maintenance enhance operational reliability.

• Recognized with a "B" rating by the Carbon Disclosure Project for environmental management.

Strategic priorities and market outlook

• Focused on safe, reliable operations and maximizing free cash flow, targeting at least 50% FCF return to shareholders in 2H2026.

• Successfully repriced legacy contracts to leading-edge rates, with further repricing opportunities ahead.

• Positioned for earnings and FCF growth in 2027, leveraging contracting strength in an improving market.

• Offshore deepwater investment is forecasted to rise, with 94% of speculative floater demand economic at $60/bbl oil.

• Global floater demand expected to increase, driven by exploration and development activity.