Seadrill’s quarterly net income dropped to $190 million from $315 million a year earlier on revenues that were little changed at $1.29 billion. The company said it will suspend dividend payouts to counter the effect of weaker rig demand and dayrates.
“The board views the deterioration in oil prices as an indicator of more broad demand growth concerns, and must approach the current macro environment with an element of caution,” Seadrill said.
“Given
