SEADRILL UK LTD.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have assessed the ability of the Company to be a going concern. The Company's cash flow forecast, taking account of reasonable possible changes in trading performance, show that the Company will be able to operate within the level of its current cash and cash equivalents for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements. Having assessed the principal risks the directors considered it appropriate to adopt the going concern basis of accounting in preparing its financial statements.”

Group structure

1. SEADRILL UK LTD. · parent
   1. Seadrill Offshore AS 100% · Norway · Right of use owner for West Vela, West Auriga & Sevan Louisiana rigs
   2. Seadrill Jack Up I BV 100% · Netherlands · Dormant
   3. Seadrill Jack Up II BV 100% · Netherlands · Dormant
   4. Seadrill Newfoundland Operations Ltd 100% · Canada · Offshore drilling services
   5. Seadrill Offshore Nigeria Limited 99% · Nigeria · Dormant
   6. Seadrill Saudi I BV 100% · Netherlands · Dormant
   7. Seadrill Nigeria Operations Ltd. 48% · Nigeria · Dormant
   8. Seadrill B.V. 100% · Netherlands · Offshore drilling services
   9. Seadrill Nigeria Deepwater Contracting Limited 49% · Nigeria · Dormant
   10. Seadrill Canadian Holdco Limited 100% · United Kingdom · Holding company
   11. Seadrill Switzerland GmbH 100% · Switzerland · Rig owner
   12. Seadrill Canada Operations ULC 100% · Canada · Dormant
   13. Seadrill Americas Inc. 100% · USA · Onshore services
   14. Seadrill Gulf Operations Neptune LLC 100% · USA · Rig Operator
   15. Seadrill Saudi II BV 100% · Netherlands · Dormant
   16. Seadrill Saudi Limited Company 100% · Saudi Arabia · Dormant
   17. Seadrill Servicos de Petroleo Ltda 100% · Brazil · Rig Operator
   18. SOAS Servicos de Petroleo Ltda 100% · Brazil · Guarantor
   19. Seadrill International USA Resourcing Inc. 100% · USA · Onshore services
   20. Sevan Drilling North America LLC 100% · USA · Rig Operator
   21. Sevan Drilling Rig II Pte 100% · Singapore · Dormant
   22. Sevan Drilling Rig V Pte 100% · Singapore · Dormant
   23. Sevan Drilling Rig VI Pte 100% · Singapore · Dormant

Significant events

• “On 16 May 2024, Seadrill entered into a definitive agreement to sell three jackup rigs, the West Castor, West Telesto, and West Tucana, and its 50% equity interest in the joint venture that operated these rigs offshore Qatar, to Seadrill's joint venture partner, Gulf Drilling International, for cash proceeds of $338 million. The closing of the sale occurred in June 2024, and a gain of $203 million, net of transaction costs, was recognised in the second quarter of 2024 associated with the disposal of these assets.”
• “On 23 November 2024, Seadrill executed a Sale and Purchase Agreement with Petrovietnam Drilling & Well Service Corporation to divest the West Prospero for cash proceeds of $45 million. The closing of the sale occurred in December 2024, and a gain of $31 million, net of transaction costs, was recognised in the fourth quarter of 2024 associated with the disposal of the jackup rig.”
• “On 18 February 2025 the West Polaris rig commenced its contract with Petroleo Brasileiro S.A (Petrobras) and from this date the Company received turnover per the terms on the contract.”
• “On 18 March 2025 the Company's direct subsidiary Seadrill Canadian Holdco Limited was dissolved.”
• “On 19 March 2025 SOAS Servicos de Petroleo Ltda was merged into Seadrill Servicos de Petroleo Ltda. On 19 March 2025 Sevan Marine Servicos Ltda became an associated undertaking by virtue of Seadrill Servicos de Petroleo Ltda acquiring a 14.3% holding.”
• “On 3 June 2025 Sevan Drilling Rig VI Pte. Ltd. was dissolved by members' voluntary liquidation.”
• “On 12 September 2025, Scorpion Deepwater B.V. became an indirect subsidiary by virtue of Seadrill Jack Up II B.V. acquiring 100% shareholding from Scorpion Deepwater Ltd.”
• “On 12 September 2025, Scorpion Nederlandse B.V. became an indirect subsidiary by virtue of Seadrill Jack Up II B.V. acquiring 100% shareholding from Scorpion International Ltd.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +1,413.6%

  £6,859,471 → £103,827,964

• Cash

  —

  Not reported

• Net assets

  -6.7%

  £153,707,037 → £143,408,049

• Employees

  0%

  3 → 3

• Operating profit

  -6,879.7%

  -£593,579 → -£41,429,835

• Profit before tax

  -453.7%

  -£2,495,818 → -£13,820,340

• Wages

  +2,266.9%

  £699,214 → £16,549,893

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers