Seadrill Limited announces contract awards for two drillships.

The West Capella secured a one-well contract in South Korea, with an estimated duration of 40 days, valued at approximately $32 million, including a mobilization fee of approximately $10 million and excluding fees for additional services. The contract is expected to commence in December 2024.

The West Neptune secured a six-month contract extension with an independent operator in the US Gulf of Mexico, expected to start in the third quarter of 2025 in direct continuation of its current contract. The estimated contract value of approximately $86 million excludes fees for additional services, including managed pressure drilling (“MPD”). Seadrill will upgrade the West Neptune with MPD capabilities during planned out-of-service periods, making it the tenth rig in the Company’s fleet with MPD or MPD-equivalent technologies.