Posted by OilVoice Press - OilVoice
Seadrill Limited ("Seadrill or the Company") has updated its Form F-1 Registration Statement to include its interim financial results for the six months ended June 30, 2018. Both the updated Form F-1 and our Form 6-K interim financial results have been filed with the U.S. Securities and Exchange Commission.
The Form 6-K interim financial results relates to Seadrill prior to its emergence from Chapter 11 on July 2, 2018, and does not include the effects of the reorganization or fresh start reporting.
The updated Form F-1 includes financial information as at June 30, 2018 presented pro-forma to illustrate the effects of the reorganization and fresh start reporting. Under fresh start reporting, the fair values of assets and liabilities are expected to differ materially from the values reflected in our financial statements for periods prior to our emergence.
As previously announced, the Company will report its first set of financial results post emergence for the third quarter during November 2018 which will reflect the reorganization and fresh start reporting.
The table below summarizes key financial metrics reported in our interim report on Form 6-K:
|($ millions)||Six months ended|
June 30, 2018
|Total operating revenues||712|
|Contingent consideration realized||7|
|Loss on Impairment of Long Lived Assets1||(414)|
|Total operating expenses (excluding impairments)||(918)|
|Depreciation and Amortization||391|
|Loss on Impairment of Long Lived Assets||414|
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