Seadrill Limited — Form 6-K Summary
Business context and reporting period
Seadrill Limited, an offshore drilling contractor listed on the NYSE and Oslo Stock Exchange, filed this Form 6-K on May 13, 2024, reporting share repurchase transactions conducted from May 6 through May 10, 2024. The company’s repurchase program began on December 14, 2023 and authorizes purchases of up to $250 million of common shares through September 30, 2024, subject to the program terms.
Key financial and capital allocation metrics
| Metric | Period / cumulative amount |
|---|---|
| Shares repurchased during May 6–10, 2024 | 186,100 |
| Average purchase price during the period | $51.25 per share |
| Total purchase value during the period | $9.54 million |
| Cumulative shares repurchased under the program | 4,104,395 |
| Cumulative purchase value | $192.25 million |
| Repurchased shares as a percentage of issued shares | 5.54% |
| Remaining authorization, based on disclosed amounts | Approximately $57.75 million |
During the reported week, 11,675 shares were purchased on the Oslo Stock Exchange for $0.60 million and 174,425 shares were purchased on the NYSE for $8.94 million. The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity figures.
Material changes versus the prior comparable period
Compared with previously disclosed cumulative activity, the company added 186,100 repurchased shares and approximately $9.54 million of additional purchases. Cumulative repurchases increased to 4,104,395 shares, representing 5.54% of issued shares. No operating or financial statement comparisons are provided.
Guidance, outlook, risks, contingencies, and unusual items
The filing does not provide operating guidance, earnings outlook, management commentary on performance, or new contingencies. The principal disclosed item is the ongoing share repurchase program, which may continue through September 30, 2024 or until the authorized amount is used, subject to applicable terms and market conditions.
Investor verification points
- Verify the remaining availability under the $250 million repurchase authorization and the program’s termination date.
- Confirm the treatment of the 4,104,395 repurchased shares, including whether they are held in treasury or canceled.
- Assess the effect of the repurchases on issued and outstanding shares, per-share metrics, and capital allocation.
- Review the attached transaction appendix and related Oslo Stock Exchange disclosure for transaction-level details.
- Consult Seadrill’s financial filings separately for revenue, profitability, cash flow, debt, liquidity, fleet utilization, and backlog information.