Rig contractor Seadrill is optimistic about prospects for higher contracting activity with improved dayrates in the deep-water rig market even though it posted an increased loss in the first quarter as it suffered from the impact of previous market weakness, writes Steve Marshall.
The London-based rig contractor reported a quarterly net loss of $296 million, versus a year-earlier loss of $203 million, as operating revenue dropped to $302 million from $364 million in the same period of 2018.
