Seadrill Limited Overview
Pro stress-test →Seadrill Limited provides offshore drilling services to the oil and gas industry worldwide, owning and operating drill ships and semi-submersible rigs for operations in shallow and ultra-deep water in benign and harsh environments. The company is executing strong operational performance while benefiting from significantly improving deepwater market dynamics.
Strategic Profile
Pro stress-test →Demand for deepwater rigs continues to improve as customers pursue longer-term programs, with tightening supply, increasing multi-year visibility, and repricing of legacy contracts positioning Seadrill to enter 2026 from a position of strength. The company's contracted backlog has grown to approximately $2.5 billion, covering roughly 90% of its 2026 revenue guidance midpoint.
Competitive Landscape
Pro stress-test →Seadrill competes in the offshore deepwater drilling services market against major competitors including Transocean, Diamond Offshore, and Valaris. The market is characterized by high barriers to entry, significant capital requirements, and consolidation trends. Seadrill's competitive position is strengthened by its modern deepwater fleet and long-term customer relationships with major oil majors and national oil companies.
Industry Context
Seadrill Limited operates in Offshore Oil & Gas Drilling Services.
Key facts
Founded: 2005 · Headquarters: Hamilton, Bermuda · Revenue: $1.44B · Market cap: $2.73B