Seadrill reports $800,000 operating loss for July period

By Sarah Lizee

Olympia, Wash., Aug. 23 – Seadrill Ltd. reported a $800,000 operating loss on $60.9 million of total operating revenues for the July period, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, the company reported a $49.4 million operating loss on $90.1 million of total operating revenues for the June period.

The net loss for July was $20.7 million, compared to a $59.7 million net loss for June.

The company listed $394.6 million in cash and cash equivalents as of July 31, compared to $413.6 million at the end of June.

London-based offshore drilling company Seadrill filed Chapter 11 bankruptcy on Feb. 7, 2021 under case number 21-30427.

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