Seadrill Ltd. reports $10.7 million operating loss for March period

By Sarah Lizee

Olympia, Wash., April 30 – Seadrill Ltd. reported a $10.7 million operating loss on $72.4 million of revenues for the March period, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, the company posted a $5.2 million operating loss on $49 million of revenues for February.

The net loss for March was $220 million, compared to $22.2 million in February.

The company listed $461.1 million in cash and cash equivalents as of March 31, up from $426.1 million at the end of February.

London-based offshore drilling company Seadrill filed Chapter 11 bankruptcy on Feb. 7 under case number 21-30427.

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