Page 22 - Anton Dibowitz News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 Group's 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 capital injection by issuing $550 million of new secured notes maturing in 2028. As of April 30, 2021, Va...

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 lenders with just 1 percent left with the current shareholders. According to Finansavisen, the proposed...

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 Environment, Jack-Up and Floater Operating Units, Seadrill noted. He will also drive to achieve the high...