The oilfield service industry can, at times, be intimidating in its complexity and depth. Furthermore, mega-mergers (e.g. GE – Baker, Technip – FMC, Wood Group – Amec Foster Wheeler) have created a supply chain that no-longer has homogenous competition that can be easily-grouped and segmented. All the leading players in OFS now have a materially different business mix and service line provision.
Seadrill Limited ("Seadrill" or "the Company"), as part of its restructuring plans, has signed and closed an agreement with Archer and its lenders to extinguish approximately $253 million in financial guarantees provided by Seadrill in exchange for a cash payment of approximately $25 million.
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