Seadrill Reports Q2 And Six Months 2012 Results
Bermuda-based Seadrill have today [Aug 27] reported their second quarter and six months 2012 results. Consolidated revenues for the second quarter of 2012 amounted to US$1,122 million compared to US$1,050 million in the first quarter 2012.
Operating profit for the quarter was US$483 million compared to US$456 million in the preceding quarter.
Net financial items for the quarter showed a gain of US$114 million compared to a gain of US$24 million in the previous quarter, as Seadrill in the second quarter recorded an accounting gain of US$169 million largely related to the merger of SapuraCrest Petroleum Bhd [SapuraCrest] and Kencana Petroleum Bhd [Kencana].
In addition Seadrill recorded a gain on sales of 300 million shares in SapuraKencana of US$84 million. Income taxes for the second quarter were US$43 million, up from US$41 million in the previous quarter. Net income for the quarter was US$554 million or basic earnings per share of US$1.12.
Chief Executive Officer in Seadrill Management AS Alf C Thorkildsen says in a comment, “We are pleased to deliver another strong quarter, reflecting our solid operational performance.
“Since our last reporting we have secured new contracts with an estimated revenue potential of US$7.6 billion, reflecting both our clients satisfaction with our operations and the strong demand for high-specification quality equipment.
“In reflection of our strong operational performance, record high orderbacklog and the strong market outlook we are pleased to announce a quarterly cash dividend of US$0.84.”
