Seadrill has secured a significant new contract in Southeast Asia for its ultra-deepwater drillship, the West Capella. The vessel, which had been idle in Malaysia, has been contracted by an unnamed client in Malaysia for an estimated 440 days. This contract adds $157 million to Seadrill's backlog, includes a $5 million mobilization fee, and features priced options for three additional wells. The company had previously identified potential opportunities for the rig with operators in India, Malaysia, and Indonesia.

Additional Contract Awards

Alongside the West Capella award, Seadrill announced two other contract successes. In Brazil, the drillship West Carina has received a contract extension with Petrobras, now running until April 2026. In Norway, the jack-up rig West Elara has secured an accommodation contract with Equinor. This contract, valued at $78 million, will see the unit transfer from ConocoPhillips to Equinor from the third quarter of 2026 until the fourth quarter of 2027 and includes three priced options of three months each.

Strategic Significance

The reactivation of the West Capella is highlighted as a move that materially enhances Seadrill's earnings potential within a region experiencing reinvigorated demand for offshore drilling. The Equinor contract for the West Elara is described as a harmonious solution to a potential gap in that rig's operational schedule.

Fleet Overview

Seadrill's owned fleet consists of nine drillships, one active semi-submersible in the US Gulf of Mexico, two idle semi-submersibles in Norway, and one active jack-up rig. Additionally, the company has a joint venture in Angola, Sonadrill, which owns three more drillships.