Seadrill Ltd (SDRL) Appoints Two New Directors


Seadrill Ltd (NYSE:SDRL) announces that Michael Grant and David Weinstein have been appointed as Directors of the Company with effect from January 10, 2017. Mr Grant and Mr Weinstein each bring additional industry and cross-border transaction expertise to our Board of Directors.
Mr Grant has held Senior Management positions in a number of private and listed entities, including Al Jaber Group (UAE), Cable & Wireless (US & UK), Houses of Parliament (UK) and Eurotunnel Group (UK/France). Mr Grant has a first degree in Civil Engineering, an MBA in Finance from London Cass Business School and has completed the Advanced Management Programme at Harvard Business School. He is a Chartered Engineer, a Fellow of the Institution of Civil Engineers (UK) and a Fellow of the UK Association of Corporate Treasurers.
Mr. Weinstein is the Chairman of THE ONEIDA GROUP and Deputy Chairman of TORM plc.  Mr. Weinstein graduated from the Columbia School of Law and Brandeis University.

Shares of Seadrill are currently trading at $3.38, up $0.01 or 0.15%. SDRL has a 1-year high of $7.49 and a 1-year low of $1.57. The stock’s 50-day moving average is $3.31 and its 200-day moving average is $2.75.

On the ratings front, Credit Suisse analyst Gregory Lewis reiterated a Sell rating on SDRL, with a price target of $1, in a report issued on September 23. The current price target implies a downside of 70% from current levels. According to TipRanks.com, Lewis has a yearly average loss of 2.4%, a 48% success rate, and is ranked #3640 out of 4351 analysts.

Seadrill Ltd. is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, jack-up rigs, tender rigs for operations in shallow, mid, deep, and ultra deep-water areas, and in benign and harsh environments. It operates through the following segments: Floaters, Jack-up Rigs, and Tender Rigs. The Floaters segment offer services encompassing drilling, completion, and maintenance of offshore exploration and production wells. The Jack-up Rigs segment offers drilling services, completion and maintenance of offshore exploration and production wells. The drilling contracts relate to jack-up rigs for operations in harsh and benign environments. The Tender Rigs segment operates self-erecting tender barges and semi-submersible tender rigs, which are used for production drilling and well maintenance in Southeast Asia and West Africa.