Joshua Jayne's questions to Seadrill Ltd (SDRL) leadership • Q3 2024
Question
Joshua Jayne requested more detail on the company's plan to 'optimize operations' in 2025. He also asked about the potential impact of a new U.S. administration on the Gulf of Mexico market.
Answer
President and CEO Simon Johnson explained that 'optimizing operations' involves being agile and lean, managing the cost base in real-time by making tough decisions like stacking rigs if work is unavailable, and right-sizing the organization to avoid excess capacity. Regarding U.S. politics, Johnson stated they 'don't really care who's in the White House,' as long-term fundamentals favor offshore oil. EVP and CCO Samir Ali reinforced this, noting that geology and economics, not politics, will drive drilling activity.