SEADRILL MANAGEMENT LTD.
The company operates as a UK management subsidiary for the NYSE-listed Seadrill group, a global offshore drilling contractor providing rig operations and support services to the oil and gas industry.
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Cash
—
Latest balance sheet
Net assets
£25M
USD 33,178,509
-3.5% vs 2023
Employees
127
-25.7% vs 2023
Profit before tax
£733K
USD 974,546
-83% vs 2023
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £125,126,596 | £54,946,326 | -56.1% | |
| Operating profit | £3,915,497 | -£205,148 | -105.2% | |
| Profit before tax | £4,308,663 | £732,576 | -83% | |
| Net profit | £3,904,231 | -£912,563 | -123.4% | |
| Cash | — | — | — | |
| Total assets less current liabilities | £25,853,185 | £24,978,037 | -3.4% | |
| Net assets | £25,853,185 | £24,940,622 | -3.5% | |
| Equity | £25,853,185 | £24,940,622 | -3.5% | |
| Average employees | 171 | 127 | -25.7% | |
| Wages | £27,269,129 | £11,587,470 | -57.5% | |
| Directors' remuneration | £3,113,056 | £633,992 | -79.6% |
Figures converted to GBP from USD at 0.752 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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 3.1% | -0.4% | |
| Net margin | 3.1% | -1.7% | |
| Return on capital employed | 15.1% | -0.8% | |
| Current ratio | 1.65x | 1.78x | |
| Interest cover | 4.84x | -0.61x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company is part of Seadrill Limited group and its going concern position is linked to the future of Seadrill. Given the above and the net current asset position shown on the Company's own Statement of financial position, the financial statements have been prepared under the assumption that operations will continue. If required the Company can draw down from the cashpool arrangement with Seadrill Treasury UK Limited in order to meets is future liabilities as they fall due. The directors have therefore prepared the financial statements on a going concern basis.”
Significant events
- “In September 2023, Seadrill Limited group (hereafter referred to as "Seadrill") announced a proposal to consolidate its corporate offices in Houston and close the London office and, on 19 October 2023, decided to proceed with this relocation. The office closed on 31 March 2024 to all employees, with the lease ending on 24 June 2024.”
- “On 14 August 2023, Seadrill authorised a share repurchase program, which was announced on 15 August 2023, under which the Company completed its repurchase of $250 million of its outstanding common shares on 5 December 2023. On 27 November 2023, Seadrill authorised and announced, an increase in Its' aggregate share repurchase authorisation, allowing it to repurchase an additional $250 million of its outstanding common shares, taking the aggregate authorisation to $500 million. On 25 June 2024, Seadrill announced it had completed the additional $250 million of repurchases, with the cancellation of 5,250,707 treasury shares acquired under the program on 28 June 2024.”
- “During the second quarter of 2024, Seadrill authorised a new $500 million share repurchase program that will run for a period of two years from 25 June 2024, the date of completion for the programs initiated in 2023.”
- “In September 2023, Seadrill announced a proposal to consolidate its corporate offices in Houston and close the London office and, on 19 October 2023, decided to proceed with this relocation. The closure was completed on 31 March 2024 with the office lease ending in June 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CROMBIE, William John | Director | 2025-03-31 | May 1976 | British |
| GILBERTSON, James Michael Brandon | Director | 2025-08-04 | Aug 1979 | British |
| THORNTON, Tracy | Director | 2025-03-31 | Sep 1970 | British |
Show 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CREED, Grant Russel | Director | 2022-08-05 | 2024-02-14 |
| DIBOWITZ, Anton | Director | 2018-12-10 | 2020-10-01 |
| GILLIVER, Neil Derek | Director | 2018-12-10 | 2022-03-09 |
| HALVORSEN, Fredrik | Director | 2012-11-01 | 2013-07-19 |
| HINGLEY WILSON, Robert | Director | 2012-11-01 | 2014-09-03 |
| HOANG, Thomas Tung | Director | 2025-03-31 | 2025-08-04 |
| JACKSON, Stuart Robert | Director | 2020-07-30 | 2022-03-25 |
| LINDLEY, Philip Richard | Director | 2024-02-06 | 2025-03-31 |
| LUNDETRAE, Rune Magnus | Director | 2012-11-01 | 2015-06-30 |
| MCNAMARA, Paula Antoinette | Director | 2024-02-06 | 2024-12-04 |
| MORRIS, Mark Nicholas | Director | 2015-09-22 | 2019-06-28 |
| NELSON, Leif | Director | 2022-03-25 | 2024-02-11 |
| REDDING, Sandra Faye | Director | 2020-07-30 | 2022-08-02 |
| SAUER-PETERSEN, Torsten | Director | 2022-08-05 | 2024-02-06 |
| SNEDDON, David Scott | Director | 2014-09-03 | 2018-08-31 |
| SOUSA, Georgina Elizabeth | Director | 2012-11-01 | 2018-12-07 |
| WHITE, Philip Charles Anthony | Director | 2024-02-06 | 2024-04-24 |
| WULLF, Per | Director | 2012-11-01 | 2018-12-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Seadrill Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2022-04-28 | Active |
| Seadrill Limited | Corporate entity | Shares 75–100% | 2019-03-26 | Ceased 2022-02-22 |
| Seadrill Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2018-07-02 | Ceased 2018-11-02 |
| Seadrill Rig Holding Company Ltd | Corporate entity | Shares 75–100% | 2018-05-17 | Ceased 2019-03-26 |
| Seadrill Rig Holding Company Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2018-05-17 | Ceased 2018-07-02 |
| Seadrill Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2018-05-17 |
Filing timeline
Last 20 of 90 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-19 | AA | accounts | Accounts with accounts type full | |
| 2025-12-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-04 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-04 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-11 | AA | accounts | Accounts with accounts type full | |
| 2024-04-25 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-09 | AA | accounts | Accounts with accounts type full | |
| 2024-04-08 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-02-14 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-12 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-07 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.