Seadrill raises 2026 guidance following strong Q2 results

Seadrill Limited has raised its full-year 2026 guidance for total operating revenues and adjusted EBITDA following its second-quarter results. The offshore drilling contractor reported second-quarter operating revenues of $449 million and an adjusted EBITDA of $144 million, up from $358 million and $97 million in the previous quarter, respectively.

Key drivers for the improved performance include higher average day rates and increased operating days for rigs such as the West Jupiter and West Capella. The company reported a 96% economic utilization rate during the quarter. Additionally, Seadrill added approximately $200 million to its contract backlog through new awards and extensions in the U.S. Gulf and Malaysia since its May report.

For the full year 2026, the company now expects operating revenues to fall between $1.50 billion and $1.55 billion (excluding $50 million in reimbursable revenues) and adjusted EBITDA to range from $420 million to $450 million. Capital expenditure guidance remains unchanged at $200 million to $240 million.