Seadrill, an overseas boring specialist, is proactively looking for chances to broaden via property purchases or by combining with market peers, reported Reuters, pointing out chief executive officerSimon Johnson
Following a duration of economic restructuring, the firm, as soon as led by Norwegian- birthed billionaire John Fredriksen, is currently under the control of its lenders.
With an extra structured procedure, Seadrill’s chief executive officer has actually revealed passion in getting “distressed assets” or business with“distressed balance sheets”
He stated: “We are not going to do anything crazy, we have proven our discipline.”
However, the quantity of cash money the firm hangs on its annual report, “which some consider inefficient, gives us both a defensive buffer and a basis for offence”, Johnson included.
“We have not seen the end of consolidation in (the offshore drilling market).”
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