Seadrill
- Company typePublic
- Founded1972
- HeadquartersLondon, United Kingdom
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Seadrill does
Seadrill is a deepwater offshore drilling contractor providing offshore drilling services to the global oil and gas industry. The company operates a fleet of 18 high-specification rigs consisting of 15 drillships, 2 semi-submersibles, and 1 jack-up, deployed across the U.S. Gulf, Brazil, Norway, Angola, Malaysia, and other offshore basins for national oil companies, integrated majors, and independent E&P operators. Its primary revenue source is long-term dayrate contracts, with Q1 2026 revenue of $358 million and full-year 2026 guidance of $1.43–$1.48 billion against a $3.1 billion contract backlog.
Seadrill's technology stack centers on its proprietary PLATO data analytics platform, the AI-enabled Asset Lifecycle Management (ALCM) predictive maintenance system (which delivers a 50% reduction in equipment overhaul frequency versus standard API criteria), and Managed Pressure Drilling (MPD) expertise supported by industry-first ABS MPD (2016) and CBM (2021, 2024) notations and over 100 MPD wells drilled globally. The fleet is equipped with Starlink satellite connectivity and is participating in a strategic alliance with Kongsberg Maritime and Hanwha Drilling to develop next-generation remote dynamic positioning technology.
Seadrill goes to market through direct enterprise sales and competitive tenders with major operators, including Petrobras, Equinor, LLOG/Harbour Energy, TotalEnergies, and PTTEP. Contracts are multi-year dayrate agreements, with disclosed rates of $409,200–$454,700 per day on the West Polaris extension. The company operates the Sonadrill 50:50 joint venture with Sonangol E.P. for Angolan operations and holds ISO 9001, 14001, 45001, and 50001 certifications. Headquartered in Hamilton, Bermuda, with corporate operations in Houston, the company is listed on the NYSE under ticker SDRL.
Seadrill firmographics
Firmographics- Name
- Seadrill
- Legal name
- Seadrill Limited
- Website
- https://seadrill.com
- Company type
- Public
- Founded year
- 1972
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
Seadrill industry classification
Industry- Product category
- Offshore Drilling Services
- NAICS
- Drilling Oil and Gas Wells (213111)
- SIC
- Drilling Oil & Gas Wells (1381)
- akta.pro primary industry
- Drilling & Workover Rigs (Land & Offshore) (EUALABAA)
Keywords
Where Seadrill is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices8 records
Markets served
Seadrill business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Offshore Drilling Services (Dayrate Contracts): Seadrill earns revenue by providing offshore drilling services under long-term contracts with oil and gas companies. Revenue is primarily driven by day rates charged for drillship, semi-submersible, and jack-up rig operations. Contract backlog provides revenue visibility extending multiple years. Q1 2026 total operating revenues of $358 million. Full-year 2026 guidance: $1.43-$1.48 billion in total operating revenues.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Multi-year contract | Dayrate-based drilling contracts for ultra-deepwater drillships |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Seadrill product offering
Product offeringCore offering
Seadrill is a deepwater offshore drilling contractor that provides offshore drilling services to the oil and gas industry using a fleet of drillships, semi-submersibles, and jack-up rigs. The company contracts high-specification drilling assets and crews to national oil companies, integrated majors, and independent E&P operators under multi-year dayrate agreements, augmented by proprietary digital platforms (ALCM, PLATO) and Managed Pressure Drilling expertise.
Product overview
Seadrill is an offshore drilling contractor operating a high-specification, floater-focused fleet including drillships, semi-submersibles, and jack-up rigs. The fleet includes branded vessels such as West Polaris, West Saturn, West Capella, West Vela, West Neptune, West Tellus, West Carina, West Auriga, Sonangol Quenguela, Sonangol Libongos, Sevan Louisiana, West Aquarius, West Elara, West Eclipse, West Gemini, West Jupiter, and West Phoenix. Beyond vessel operations, Seadrill offers technology-enabled services including PLATO proprietary data analytics platform, AI-enabled Asset Lifecycle Management (ALCM) for predictive maintenance, Managed Pressure Drilling (MPD) services, Starlink satellite connectivity, Advanced Generator Protection, and Safety Technologies. The company operates through its main entity and the Sonadrill joint venture (50:50 with Sonangol E.P.) for Angola operations.
Differentiator
Problem solved
Functional benefit
Products and services
- Ultra-Deepwater Drillship Operations
Quantifiable outcome
- 50% reduction in overhaul frequency using AI-enabled ALCM platform vs standard API criteria
- +3 more outcomes
Companies that use Seadrill
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Seadrill technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature7 records
Seadrill partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and strategic.
- Sonadrill Holding Ltd (Sonangol E.P. joint venture)core50:50 joint venture between Seadrill and an affiliate of Sonangol E.P., Angola's national oil company. Seadrill earns a management fee for providing management, operational, and technical support. The JV operates Sonangol Quenguela and Sonangol Libongos drillships. Contract extension for Sonangol Quenguela extended operations through June 2028 with approximately 480 additional days for a seven-well option with TotalEnergies.
- Kongsberg MaritimestrategicStrategic alliance with Kongsberg Maritime and Hanwha Drilling to develop next-generation remote dynamic positioning (DP) technology for offshore drilling operations. The collaboration combines Kongsberg Maritime's automation and communications technologies with Seadrill's and Hanwha Drilling's operational expertise to establish new industry standards for safety and efficiency.
- Hanwha DrillingstrategicStrategic alliance with Kongsberg Maritime and Seadrill to develop next-generation remote dynamic positioning (DP) technology for offshore drilling. Combines Hanwha Drilling's operational expertise with Kongsberg's automation technologies to create centralized, repeatable processes that reduce cognitive load on rig crews.
- Oil States IndustriesstrategicUnique partnership combining Seadrill's operational knowledge with Oil States' engineering expertise to build a Managed Pressure Drilling (MPD) package. The collaboration aims to deliver game-changing improvements in safety, efficiency, and reliability, along with a reduction in non-productive time in offshore drilling.
Scale indicators11 records
Recent moves6 records
Expansion highlights5 records
Seadrill competitors and assessment
Company assessmentOthers
- Subsea 7: Subsea 7 is a global leader in subsea engineering, construction, and services to the offshore energy industry. While not a drilling contractor, it serves the same IOC/NOC customer base and is led by former CEO Jean Cahuzac who sits on Seadrill's board — making it a strategically adjacent peer.
Direct peers
- Stena Drilling: Stena Drilling is a privately-held offshore drilling contractor operating harsh-environment semi-submersibles and drillships. It competes with Seadrill for Norwegian, UK, and other harsh-environment tenders, particularly with Equinor.
- Transocean: Transocean is the world's largest offshore drilling contractor, operating the largest ultra-deepwater drillship and harsh-environment semi-submersible fleet. It directly competes with Seadrill for tenders from Petrobras, Equinor, and other IOCs/NOCs, and serves as the primary benchmark for deepwater dayrates.
- Noble Corporation: Noble Corporation operates a global fleet of offshore drilling rigs including ultra-deepwater drillships and jack-ups. It is the second-largest offshore drilling contractor by fleet size and directly competes with Seadrill across the U.S. Gulf, Brazil, and Norway. Seadrill's 95.7% institutional ownership is compared explicitly against Noble's 68.1%.
- Diamond Offshore: Diamond Offshore operates a fleet of ultra-deepwater drillships and semi-submersibles and is a direct floater competitor to Seadrill. Seadrill's CEO Samir Ali joined from Diamond Offshore, and the two companies compete for the same deepwater tenders globally.
- Valaris Limited: Valaris is a major offshore drilling contractor formed from the combination of Valaris and Maersk Drilling's floater business. It operates drillships, semi-submersibles, and jack-ups globally and competes directly with Seadrill for ultra-deepwater tenders with major operators.
Emerging players
- Borr Drilling: Borr Drilling is a pure-play jack-up rig contractor with a young fleet focused on shallow-water drilling. While not a direct floater competitor, it operates in the same offshore drilling market and competes with Seadrill's single jack-up rig (West Elara) for shallow-water tenders.
- Shelf Drilling: Shelf Drilling is one of the largest jack-up rig contractors focused on the Middle East, North Africa, and Southeast Asia. It is a regional competitor in the jack-up segment where Seadrill has minimal exposure.
Regional players
- ADES Group: ADES Group Holding is a leading offshore drilling and production services provider in the Middle East and Africa, primarily operating jack-up rigs. It competes with Seadrill in MENA-region tenders where Seadrill has historically less floater exposure.
Broad incumbents
- Saipem: Saipem is a large, integrated oilfield services and engineering contractor with drilling and offshore EPCI capabilities. While its drilling fleet is smaller and more regional, it competes with Seadrill for integrated offshore tenders with NOCs in West Africa and the Mediterranean.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Seadrill social profiles
Digital presenceSeadrill compliance and trust
Trust signalCompliance7 records
Seadrill financial estimates
Financial estimateRevenue estimate
Valuation estimate
Seadrill leadership team
Management profileNumber of profiles
Profiles16 records
Seadrill subsidiaries and ownership
Company hierarchySubsidiaries2 records
Seadrill funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Seadrill M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Seadrill
What does Seadrill do?
Seadrill is a deepwater offshore drilling contractor that provides offshore drilling services to the oil and gas industry using a fleet of drillships, semi-submersibles, and jack-up rigs. The company contracts high-specification drilling assets and crews to national oil companies, integrated majors, and independent E&P operators under multi-year dayrate agreements, augmented by proprietary digital platforms (ALCM, PLATO) and Managed Pressure Drilling expertise.
Is Seadrill a public or private company?
Seadrill is a public company. It is classified as public and is currently operating.
When was Seadrill founded?
Seadrill was founded in 1972. It employs 1,001 to 5,000 people.
Where is Seadrill based?
Seadrill is headquartered in London, United Kingdom, in the Europe region.
How does Seadrill make money?
One revenue line is on record: offshore Drilling Services (Dayrate Contracts).
Who are Seadrill's main competitors?
Subsea 7 is listed as an others. Direct peers are Stena Drilling, Transocean, Noble Corporation, Diamond Offshore and Valaris Limited. Emerging players are Borr Drilling and Shelf Drilling. ADES Group is listed as a regional player. Saipem is listed as a broad incumbent.
Does Seadrill have an API?
No public API is recorded for Seadrill.
What industry is Seadrill in?
Seadrill's product category is Offshore Drilling Services. Its primary akta.pro industry code is EUALABAA, Drilling & Workover Rigs (Land & Offshore). Its NAICS code is 213111 and its SIC code is 1381.