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    Truls Olsen • Fearnley Securities

    Truls Olsen's questions to Seadrill Ltd (SDRL) leadership

    Truls Olsen's questions to Seadrill Ltd (SDRL) leadership • Q2 2025

    Question

    Truls Olsen of Fearnley Securities requested updates on several topics: the CJ70 jack-up market in Norway, the status of the Sete Brasil claim and mediation process, and any color on the day rates for the recently awarded West Vallor and Savan Louisiana contracts.

    Answer

    President & CEO Simon Johnson reported no material update on the Norway market or the Sete Brasil claim, noting the latter is a complex, long-term process that is not affecting current operations. EVP & CCO Samir Ali commented on day rates, stating the West Vallor's 2025 rate is comparable to what peers are getting for 2026-2027 starts, while the Savan Louisiana's intervention work is at a different, but still EBITDA-positive, price point.

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    Truls Olsen's questions to Borr Drilling Ltd (BORR) leadership

    Truls Olsen's questions to Borr Drilling Ltd (BORR) leadership • Q2 2024

    Question

    Truls Olsen inquired about the new long-term contract in Brazil, focusing on the operational challenges, associated costs of entering the market, and the role of Borr's local partner.

    Answer

    Executive Patrick Arnold Schorn confirmed that entering the complex Brazilian market necessitated a local partner. Chief Commercial Officer Bruno Morand elaborated that the rig is scheduled to start in Q1 2025, allowing ample preparation time. He noted that a substantial mobilization fee will help cover costs and that the partnership with an experienced local company is crucial. The work scope, primarily P&A and intervention, is considered relatively simple for the high-specification rig.

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