Seadrill Announces Pemex Exploración y Producción (“Pemex”) Payment

Source: www.gulfoilandgas.com 10/11/2021, Location: South America

Seadrill Limited and the Issuer announce that at the end of September 2021, certain subsidiaries of SeaMex Ltd. (in provisional liquidation), a 50/50 joint venture entered into by one of the Issuer’s subsidiaries, Seadrill JU Newco Bermuda Ltd., received payments amounting to approximately US$31.4m from Pemex, the key customer of the SeaMex Ltd. group, in respect of historic unpaid invoices.

This announcement relates to SeaMex Ltd. and has no relation to Seadrill Limited’s plan of reorganisation (the “Plan”) and therefore does not impact the recoveries existing shareholders of Seadrill Limited will receive under the Plan. Consummation of the Plan is subject to a number of customary terms and conditions, including court approval.


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