Seadrill Limited is a global offshore drilling contractor that owns and operates a fleet of high-specification rigs—including drillships, semi-submersible (floater) rigs, and jack-ups—to service oil and gas companies worldwide. The firm is incorporated in Bermuda (headquartered in Hamilton) with operational hubs in multiple jurisdictions, and it maintains offices and shared services across Houston, London, Singapore, Norway, and other energy centers. As a contractor, Seadrill does not itself explore for or produce hydrocarbons; rather, its earnings are derived from rig contracts (dayrates, performance contracts, contract extensions) with upstream operators.
Operationally, Seadrill must manage rig deployment, maintenance, mobilization, and uptime to maximize utilization and attract premium contract terms. Because offshore rigs are extremely capital-intensive with significant fixed costs, minimizing non-productive time (transits, upkeep, downtime) is critical to its margins. Seadrill also invests in operational technology and data analytics: its rigs generate large volumes of data which are used for predictive maintenance, performance tuning, and decision support. The company has also developed or deployed managed pressure drilling (MPD) systems as part of its offering, including a collaboration with Oil States, to improve drilling efficiency and reduce non-productive time in deepwater wells.
Seadrill’s business also involves strategic asset management decisions: it periodically disposes of non-core rigs (e.g. recent divestment of jack-up units) to sharpen its focus on deeper water, high-spec assets, and to optimize its balance sheet. It also participates in joint ventures: for instance, its 50/50 joint venture Sonadrill (with Sonangol) secures contracts in Angola, with Seadrill providing technical, managerial, and rig support services.