Seadrill announces new $250M share repurchase program

Seadrill recently completed its $250M share repurchase program which was announced in September. As announced on November 27, the board of directors of the company authorized additional share repurchases, allowing the repurchase of up to a further $250M of its outstanding common shares. The company is not obligated to repurchase any shares under the program. The additional authorization has no set time limit. In furtherance of the November authorization, the company announced that it has put in place an agreement with Fearnley Securities and its subsidiary, Fearnley Securities for the repurchase of the company’s common shares in open market transactions on the OSE and the NYSE. Under this agreement, Fearnley will make its own trading decisions independently of, and uninfluenced by, the company, subject to instructions provided by the company in the agreement.