Seadrill Repurchases Common Stock Holding
Bermuda’s Seadrill Limited has, through market purchases executed on Wednesday [Apr. 3], repurchased 150,000 of the company’s own common stocks at an average price of 212.919 Norwegian Krone [NOK] per share.
In connection with the company’s Employee Share Ownership Plan [ESOP], eligible option holders have exercised options to acquire 43,350 common shares at strike prices varying from NOK31.33 to NOK139.35 per share.
The company has used treasury shares to settle the obligation related to the share option plan.
After these transactions, the company has a holding of 247,659 treasury shares.
Seadrill is a Norwegian-Bermudian offshore drilling company with operations in Angola, Brunei, the Republic of Congo, Indonesia, Malaysia, Nigeria, Norway, Thailand and the United Kingdom.
The company operates semi-submersibles, jack ups, tender rigs, semi-tenders and drillships.
The company is domiciled in Bermuda and is listed on Oslo Stock Exchange and the New York Stock Exchange. Operational headquarter is situated in Stavanger, Norway.
Other major company locations are found in Singapore, Houston and Aberdeen.
Norwegian-born Cypriot oil tanker and shipping tycoon John Fredriksen has a major ownership in the company.
Seadrill was established in May 2005 and listed on Oslo Stock Exchange in November. By July 2005 it had acquired the drilling company Odfjell and by September 2006 it owned a controlling share of Smedvig and Eastern Drilling.
