HAMILTON from Bermuda, November 18, 2021 / PRNewswire / – Seadrill Limited or (“the Company”) (OSE: SDRL) (OTCPK: SDRLF) today announces that a new independent seven-member board of directors (“Board”) will assume the leadership of the new parent company of the Seadrill group at the end of chapter 11. Seadrill received confirmation of its reorganization plan on October 26, 2021 and aims for emergence in early 2022.

The Board of Directors will be comprised of the following individuals, who collectively bring extensive industry and leadership experience:

Julie johnson robertson, President of the council

Ms. Robertson is one of the most respected leaders in the offshore drilling industry, and she was also one of the most senior women leaders in the energy industry. His career with Noble and his predecessors spanned over 40 years and held numerous positions including Executive Chairman, President and CEO. She currently sits on the board of directors of EOG Resources and Superior Energy Services. She is a resident of Houston, texas.

Mark McCollum, chairman of the audit committee

Mr. McCollum has extensive global OFSE experience and is a NYSE financial expert who has chaired three different public company audit committees. He is a 17 year veteran of the oil and gas industry, having most recently served as President and CEO of Weatherford International. He has also held a number of senior positions at Halliburton, including that of Executive Vice President and Chief Financial Officer. He currently serves on the board of directors of Westlake Chemical Corporation. He is a resident of Houston, texas.

Karen Dyrskjot Boesen

Ms. Boesen brings over 20 years of experience in finance and business roles, and most recently in senior management roles, within the oil and gas industry. She is currently Group Chief Financial Officer at Sonnedix Group. She previously held various CFO positions at TotalEnergies and AP Møller-Mærsk. She is a resident of London, England.

Jean Cahuzac

Mr. Cahuzac is a highly regarded senior executive in the offshore energy services industry. Until recently CEO of Subsea 7, he has over 41 years of industry experience, having previously worked for Transocean and Schlumberger in operational and management roles. He currently sits on the Audit Committee of Subsea 7 and is a member of the Board of Directors of Bourbon Maritime. He is a resident of Paris, France.

Jan Kjaervik

Mr. Kjærvik is an accomplished financial executive who brings more than 35 years of experience in financial roles in the banking, energy and maritime sectors. Most recently, he was Head of Treasury and Risk for AP Møller-Mærsk and prior to that he held a similar position at Aker Kværner / Solutions. He currently sits on the board of directors of Høegh Autoliners. Previous mandates include Mærsk Supply Service, Mærsk Insurance, Danish Ship Finance and Britannia PI. He is a resident of Oslo, Norway.

Andrew Schultz

Mr. Schultz is an experienced investor and executive, as well as a seasoned director with extensive experience in stress and distress situations. As a lawyer and an investor, his career has spanned many industries. He is very familiar with the offshore drilling industry and the exploration and production industry, having served as Chairman of the Board of Pacific Drilling and Director of Vanguard Natural Resources. Currently a professional advisor to non-executive directors, he sits on a total of seven boards. He is a resident of New Canaan, Connecticut.

Paul smith

Mr. Smith is a highly analytical and energetic financial leader who brings depth and expertise in capital allocation, capital structure, capital markets and restructurings with global experience in a variety of industries including mining and metals. , oil and gas and steel. He is currently the Founder and Director of Collingwood Capital Partners, which manages public and private investments focused on the resource, energy transformation and technology sectors. He had a nine-year career with Glencore, culminating as CFO of Katanga Mining. He currently sits on the Board of Trident Royalties. He is a resident of Zug, Switzerland.

Commenting on the new Board of Directors, Seadrill President and CEO Stuart jackson noted: “We look forward to welcoming this new board of directors to help develop the Seadrill brand and execute our strategic priorities. The new Seadrill will start 2022 from a position of strength and, with our new board of directors, we will be ready to focus on reshaping the industry. “

About Seadrill

Seadrill is a leading offshore drilling contractor using cutting edge technology to unlock oil and gas resources for clients in difficult and benign locations across the globe. Seadrill’s high-quality, state-of-the-art fleet covers all asset classes, enabling its experienced crews to operate in shallow or ultra-deep water environments. The Company operates 38 platforms, which include drill ships, jackups and semi-submersibles.

Seadrill is listed on the Oslo Børs and OTC Pink markets. For more information visit https://www.seadrill.com/.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. Such statements are generally not historical in nature and specifically include statements about plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made on the basis of management’s current plans, expectations, assumptions and beliefs regarding future events affecting the Company and therefore involve a number of risks, uncertainties and assumptions that could result in that actual results differ materially from those expressed or implied in forward-looking statements. statements, which speak only as of the date of this press release. Therefore, no forward-looking statement can be guaranteed. When reviewing these forward-looking statements, you should keep in mind the risks described from time to time in the regulatory documents and periodic reports of the Company. The Company assumes no obligation to update forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unforeseen events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. In addition, the Company cannot assess the impact of each of these factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.

This information is subject to disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Law.

For more information, please contact:

Media inquiries should be directed to:
Sara dunne
Communication director
[email protected]
+ 1 281 630 7064

Questions from analysts should be directed to:
Hawthorn Advisors
[email protected]
+44 (0) 203 7454960

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SOURCE Seadrill Limited