Seadrill Limited ( (SDRL) ) has released its Q3 earnings. Here is a breakdown of the information Seadrill Limited presented to its investors.
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Seadrill Limited is a prominent player in the deepwater oil and gas drilling industry, known for its modern fleet and advanced technologies that enable efficient and responsible resource extraction. In its third quarter of 2025 earnings report, Seadrill announced securing new contracts across five rigs, adding over $300 million to its order backlog, despite reporting a net loss of $11 million. The company’s total operating revenues for the quarter were $363 million, a decrease from the previous quarter, attributed to lower economic utilization and fewer rig operating days. However, operating expenses also saw a significant reduction, contributing to an adjusted EBITDA of $86 million.
Key financial highlights include a narrowed full-year guidance for operating revenue and adjusted EBITDA, reflecting a more focused financial outlook. Seadrill’s commercial activities remain robust, with significant contracts secured in Angola and the U.S. Gulf, extending the operational timeline for several rigs well into 2026. The company’s order backlog stands at approximately $2.5 billion, underscoring its strong market position.
Seadrill’s balance sheet shows a net debt position of $197 million, with $428 million in cash and cash equivalents. The company generated a free cash flow of $9 million during the quarter, demonstrating effective cash management amidst challenging market conditions. The strategic focus on backlog coverage and operational excellence positions Seadrill to capitalize on improving industry fundamentals.
Looking ahead, Seadrill’s management remains optimistic about the company’s ability to create shareholder value through disciplined commercial strategies and sustainable growth. As global tendering activity accelerates, Seadrill is poised to support long-term demand for energy services, leveraging its technological capabilities and strong customer relationships.