Seadrill adds $260-million backlog with U.S. Gulf drillship awards
(WO) - Seadrill has secured new offshore drilling work in the U.S. Gulf, adding approximately $260 million to its contract backlog and reinforcing ongoing ultra-deepwater activity in the region.
The company was awarded a 365-day contract extension for the West Neptune drillship, with work set to begin in September 2026. In addition, the West Vela drillship secured a 270-day contract, expected to commence in August 2026. Both awards come from LLOG Exploration, a subsidiary of Harbour Energy.
CEO Samir Ali said the contracts build on a long-standing relationship with LLOG and reflect strong operational performance from both rigs. He added that the backlog growth supports revenue visibility and free cash flow, even as the U.S. Gulf market experiences near-term softness.
Seadrill expects global floater utilization to improve heading into 2027, positioning both rigs for continued demand.
