# Offshore drilling industry financial performance

> Live situation record from CLSTR: https://clstr.news/situations/offshore-drilling-industry-financial-performance
> Updated: 2026-08-18T07:53:33.000Z. Sources: 2. Developments: 2.

Offshore drilling companies Seadrill Limited and Dolphin Drilling have reported positive financial results and increased contract coverage for 2026.

Seadrill raised its full-year 2026 guidance for operating revenues and adjusted EBITDA following second-quarter results that showed higher average day rates and increased operating days for specific rigs. The company also added approximately $200 million to its contract backlog through new awards and extensions in Malaysia and the U.S. Gulf.

Dolphin Drilling reported increased second-quarter and first-half revenue and EBITDA compared to the previous year. The company attributed this growth to strong operational performance, completed refinancing, and securing multi-year contract awards for the Paul B. Loyd Jr. and Borgland Dolphin, which extends fleet coverage through 2030 and 2031.

## Timeline

### 2026-08-18: Dolphin Drilling reports increased EBITDA and new multi-year contracts

Dolphin Drilling reported Q2 2026 revenue of $44.9 million and a 47% year-on-year EBITDA increase for the first half, bolstered by new multi-year contracts extending through 2030 and 2031.

2 sources. https://clstr.news/cluster/dolphin-drilling-reports-increased-ebitda-and-new-multi-year-contracts

### 2026-08-10: Seadrill raises 2026 guidance following strong Q2 results

Seadrill Limited raised its 2026 revenue and EBITDA guidance after reporting strong Q2 results driven by higher day rates and increased rig utilization.

5 sources. https://clstr.news/cluster/seadrill-raises-2026-guidance-following-strong-q2-results

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Cite as: Offshore drilling industry financial performance. CLSTR, https://clstr.news/situations/offshore-drilling-industry-financial-performance