Daily Brief Energy/Materials: Seadrill Ltd and more

• Seadrill has emerged from restructuring with a strengthened balance sheet and a strategic focus on its high-specification, modern fleet of offshore drilling rigs, positioning it to capitalize on the current industry upcycle.
• The company has demonstrated commercial success by securing over $300 million in new contracts in Q3 2025, contributing to a robust order backlog of approximately $2.5 billion, which provides significant revenue visibility into 2026.
• Despite a favorable market outlook with rising dayrates, Seadrill faces challenges including recent quarterly net losses, high operational risks, and intense competition, underscoring the inherent volatility of the offshore drilling sector.

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