UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2023
Commission File Number 001-39327
Seadrill Limited
(Exact name of Registrant as specified in its Charter)
Park Place
55 Par-la-Ville Road
Hamilton HM 11 Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Seadrill Announces Transactions Made Under the Company’s Share Repurchase Program
Hamilton, Bermuda, September 25, 2023—Seadrill Limited (“Seadrill” or the “Company” (NYSE & OSE: SDRL) initiated a share repurchase program September 12, 2023 to repurchase up to $250 million of the Company’s common shares in open market transactions on the OSE and NYSE through March 31, 2024 pursuant to an agreement with Arctic Securities AS and its subsidiary, Arctic Securities LLC (“Arctic”).
For the period from and including September 18 through 22, 2023, Seadrill purchased a total of 423,064 shares at an average price of $46.28 per share. The transactions effected through the agreement with Arctic comprise all the transactions effected by or on behalf of Seadrill Limited during the period.
Transaction overview
Date | Trading Venue | Aggregated daily volume (number of shares) | Weighted average share price (USD) | Total daily transaction value (USD) | ||||
18 Sept. 2023 | OSE | 8,814 | 48.10 | 423,915 | ||||
18 Sept. 2023 | NYSE | 51,000 | 47.86 | 2,440,697 | ||||
19 Sept. 2023 | OSE | 7,135 | 47.80 | 341,063 | ||||
19 Sept. 2023 | NYSE | 45,948 | 46.84 | 2,152,126 | ||||
20 Sept. 2023 | OSE | 13,062 | 46.95 | 613,313 | ||||
20 Sept. 2023 | NYSE | 112,000 | 46.85 | 5,247,211 | ||||
21 Sept. 2023 | OSE | 14,908 | 46.13 | 687,730 | ||||
21 Sept. 2023 | NYSE | 42,500 | 45.78 | 1,945,663 | ||||
22 Sept. 2023 | OSE | 16,050 | 45.54 | 730,909 | ||||
22 Sept. 2023 | NYSE | 111,647 | 44.77 | 4,998,057 | ||||
Period total | OSE | 59,969 | 46.64 | 2,796,929 | ||||
| NYSE | 363,095 | 46.22 | 16,783,754 | |||||
| Total | 423,064 | 46.28 | 19,580,683 | |||||
Previously disclosed totals (accumulated) | OSE | 60,021 | 47.54 | 2,853,645 | ||||
| NYSE | 294,746 | 47.99 | 14,144,354 | |||||
| Total | 354,767 | 47.91 | 16,997,999 | |||||
Program total | OSE | 119,990 | 47.09 | 5,650,574 | ||||
| NYSE | 657,841 | 47.01 | 30,928,108 | |||||
| Total | 777,831 | 47.03 | 36,578,681 |
The issuer’s holding of own shares: 777,831
Following the completion of the above transactions, Seadrill Limited owned a total of 777,831 of its own shares, corresponding to 0.97% of Seadrill Limited’s share capital.
Appendix:
An overview of all transactions made under the Company’s repurchase program and its agreement with Arctic Securities that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Contact information
Lydia Brantley Mabry
Director of Investor Relations
T: +1 (832) 252-7064
E: lydia.mabry@seadrill.com
About Seadrill Limited
Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill’s high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deepwater environments.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SEADRILL LIMITED | ||||||
| Date: September 25, 2023 | By: | /s/ Grant Creed | ||||
| Name: Grant Creed | ||||||
| Title: Principal Financial Officer of Seadrill Limited | ||||||
THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-271916) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 15, 2023.
