SEADRILL UK LTD.

• ◆

  Material uncertainty over going concern

  The directors have a reasonable expectation that the Group will continue to make available such funding as is required for the Company to meet its liabilities as they fall due. Accordingly, the directors consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. However, the matters set out above indicate that the Company remains dependent on the continued availability of Group support.

• ·

  Going-concern uncertainty disclosed

Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. 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

Material uncertainty disclosed

“The directors have a reasonable expectation that the Group will continue to make available such funding as is required for the Company to meet its liabilities as they fall due. Accordingly, the directors consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. However, the matters set out above indicate that the Company remains dependent on the continued availability of Group support.”

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 B.V. 100% · Netherlands · Offshore drilling services
   8. Seadrill Canadian Holdco Limited 100% · United Kingdom · Holding Company
   9. Seadrill Switzerland GmbH 100% · Switzerland · Rig Owner
   10. Seadrill Canada Operations ULC 100% · Canada · Dormant
   11. Seadrill Americas Inc. 100% · USA · Onshore Services
   12. Seadrill Gulf Operations Neptune LLC 100% · USA · Rig Operator
   13. Seadrill Saudi II BV 100% · Netherlands · Dormant
   14. Seadrill Saudi Limited Company 100% · Saudi Arabia · Dormant
   15. Seadrill Servicos de Petroleo Ltda 100% · Brazil · Rig Operator
   16. SOAS Servicos de Petroleo Ltda 100% · Brazil · Guarantor
   17. Seadrill International Resourcing Inc. 100% · USA · Onshore services
   18. Sevan Drilling North America LLC 100% · USA · Rig Operator
   19. Sevan Drilling Rig II Pte 100% · Singapore · Dormant
   20. Sevan Drilling Rig V Pte 100% · Singapore · Dormant
   21. Sevan Drilling Rig VI Pte 100% · Singapore · Dormant

Significant events

• “On 7 March 2024, control of the West Polaris rig was transferred from Vantage Drilling Ltd to Seadrill. The rig commenced its contract with Petrobras on 18 February 2025.”
• “On 26 April 2024, the charter contracts with Petrobras for the West Tellus, West Jupiter and West Carina rigs were novated from Seadrill Management (S) Pte Ltd to the Company.”
• “On 16 July 2024, the Board approved the formation of a new Swiss company, incorporated as wholly owned by the Company, with 25,000 quotas of $1 nominal value each.”
• “On 18 February 2025, the West Polaris rig commenced its contract with Petrobras.”
• “On 18 March 2025 the Company's wholly owned subsidiary, Seadrill Canadian Holdco Limited, was dissolved.”
• “On 17 November 2025, as part of a Seadrill group restructuring plan, the Company transferred its entire shareholdings in Seadrill Jack Up I B.V., Seadrill Saudi I B.V. and Seadrill B.V. to Seadrill Jack Up II B.V.”
• “On 1 January 2026 West Jupiter finished its contract with Petrobras and then completed the reactivation and mobilization phases before commencing a new contract with Petrobras on 21 March 2026.”
• “On 15 January 2026 the Company extended its contract with Petrobras for the West Carina rig by 100 days and on 18 March 2026 it extended again for up to a maximum of 75 additional days.”
• “On 28 January 2026 the Company exercised Option 01 within its contract with Equinor, in relation to the West Saturn rig, to extend its current contract by 365 days.”
• “On 17 March 2026 the West Tellus rig finished its contract with Petrobras and began the reactivation phase in preparation for its new contract with Petrobras which is due to commence at an undetermined date in 2026.”
• “On 6 April 2026 the Company announced a 1095 day extension of it's current contract with Petrobras for the West Polaris rig, it is expected to commence in direct continuation of the current program in January 2028.”
• “Ongoing conflict in the Middle East escalated in early 2026 and these events have increased geopolitical uncertainty, contributing to volatility in regional and global markets.”

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

Filings

6

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.