Seadrill Management Agreement

  • October 6, 2021

This press release contains forward-looking statements. These statements are generally not historical and include statements about the Company`s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are based on management`s current plans, expectations, assumptions and beliefs regarding future events affecting the business, and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those set forth in forward-looking statements that apply only at the time of this press release, were expressed explicitly or implicitly. Accordingly, no forward-looking statements can be guaranteed. In considering these forward-looking statements, you should consider the risks described from time to time in the Company`s regulatory submissions and periodic reports. The entity does not undertake to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unforeseen events. From time to time, new factors appear and it is not possible for the company to predict all these factors. In addition, the entity is not in a position to assess the impact of each of these factors on its business or on the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in the forward-looking statements. Hamilton, Bermuda, 14 years old. December 2020 – Reference is made to the communications of Seadrill Limited (“Seadrill” or “the Company”) (OSE:SDRL, OTCQX:SDRLF) of 20 November 2020 with respect to forbearance agreements entered into by the Company with certain creditors with respect to credit facility agreements and leases secured primarily by the Group. In addition, Seadrill also announced that it had agreed to renew its forbearance agreements with certain other creditors with respect to its credit facility agreements, priority secured bonds and guarantee facility agreement, in order to have more time to negotiate a comprehensive restructuring of its balance sheet. Seadrill indicated that such a restructuring might involve the application of insolvency proceedings.

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