M&A Deal Summary

Seadrill Acquires Aquadrill

On December 22, 2022, Seadrill acquired oil/gas exploration company Aquadrill for 958M USD

Acquisition Highlights
  • This is Seadrill’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Seadrill’s largest (disclosed) transaction.
  • This is Seadrill’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2022-12-22
Target Aquadrill
Sector Oil/Gas Exploration
Buyer(s) Seadrill
Deal Type Add-on Acquisition
Deal Value 958M USD
Advisor(s) Intrepid Investment Bankers LLC (Financial)
Akin Gump Strauss Hauer & Feld
Advokatfirmaet Schjødt (Legal)

Target

Aquadrill

Reading, United Kingdom
Aquadrill is a limited liability company that owns eight offshore drilling units. The company's fleet consists of four ultra-deepwater drillships, one ultra-deepwater harsh environment semi-submersible, and three tender assist drilling units. The operations and marketing of its drilling units are managed by Diamond Offshore Drilling, Inc., Energy Drilling Management Pte Ltd, and Vantage Drilling International. Aquadrill is based in Reading, United Kingdom.

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Buyer(S) 1

Buyer

Seadrill

Hamilton, Bermuda
Category Company
Founded 2005
Sector Oil/Gas Exploration
Employees2,505
Revenue 1.5B USD (2023)
DESCRIPTION

Seadrill is an offshore drilling company. Seadrill was founded in 2005 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (United Kingdom) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Eastern Drilling ASA

Grimstad, Norway

Eastern Drilling was a Norway-based offshore drilling company that developed two sixth-generation semi-submersible drilling rigs for environmentally friendly operations in harsh and deepwater environments.

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Company

Legal