Page 11 - Anton Dibowitz News Today

Stability in Brent crude futures viewed as ‘highly constructive’ for offshore project demand globally

Cutting greenhouse gases produced by drilling units is target of contractors near-term sustainability effort

CEO Tom Burke and CFO Jon Baksht to step down on 2 September 2021

Valaris Successfully Completes Restructuring Improves Liquidity Position by Receiving $520M Capital Injection ​Valaris Limited ("Valaris" or the "Company" and together with its subsidiaries, the "Valaris Group") today announced that, on April 30, 2021, the Valaris Group has successfully completed its financial restructuring and emerged from chapter 11. The Valaris Groups Plan of Reorganization (the "Plan") was approved and confirmed by the United States Bankruptcy Court for the Southern Distr...

Valaris Limited has emerged from Chapter 11 bankruptcy. Valaris Limited (NYSE: VAL) emerged from Chapter 11 bankruptcy on April 30, 2021, eliminating $7.1 billion of debt, the offshore drilling contractor reported Monday. Last week Valaris CEO and President Tom Burke indicated the reorganization would end soon. The U.S. Bankruptcy Court for the Southern District of Texas approved and confirmed the Valaris Group subsidiary’s reorganization plan on March 3, 2021, Valaris noted Monday in a writt...

Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11. The Valaris Groups Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021.  "Valaris now moves forward with a strengthened capital structure, eliminating $7.1 billion of debt and securing a $520 million capita...

Seadrill proposes debt write off of $4.8 billion PUBLISHED BY Seadrill Ltd., a deepwater drilling contracting company, owned by billionaire John Fredriksen, said it is ready to write off a debt of over $4.8 billion, giving lenders a 99 percent stake in the company, according to Finansavisen. The debt write-off proposal was presented to the US bankruptcy court in Texas ahead of the Easter holidays. The offer means that 99 percent of the ownership of Seadrill will pass on the len...

The Board of Seadrill Limited (OSE: SDRL, OTCQX:SDRLF) has announced the appointment of Reid Warriner as chief operating officer and Leif Nelson as chief technology officer, effective immediately. The Board of Seadrill Limited (OSE: SDRL, OTCQX:SDRLF) has announced the appointment of Reid Warriner as chief operating officer and Leif Nelson as chief technology officer, effective immediately. As COO, Warriner will oversee daily operational delivery for Seadrill’s customers across the Harsh Envi...