Seadrill Limited (Seadrill) (NYSE: SDRL) is pleased to provide the following contracting updates for the West Capella, West Elara and West Carina.

In Malaysia, the ultra-deepwater drillship West Capella has secured a contract with an undisclosed operator. The well-based program is expected to commence in the second quarter of 2026 for an estimated duration of 440 days, plus priced options for three additional wells. The total contract value for the firm term is approximately $157 million, including a $5 million mobilization fee and excluding additional services.

In Norway, the West Elara has secured an accommodation contract with Equinor AS on the Norwegian Continental Shelf. The program is anticipated to commence in the third quarter of 2026 and continue into the fourth quarter of 2027, with a total contract value of $78 million, plus three priced options of three months each. Prior to this fixture, Seadrill reached a mutual agreement with the current contract holder to make the West Elara available. This update to the rig’s schedule results in a net increase in total contract value of $23 million.

In Brazil, the West Carina’s current contract has been extended through April 2026.

“We are excited to confirm these important contracts with several of our long-standing customers," said President and Chief Executive Officer, Simon Johnson. “The reactivation of the West Capella materially enhances Seadrill’s earnings potential in a region with reinvigorated demand for offshore drilling. In Norway, the West Elara’s contract with Equinor represents a harmonious solution to a potential gap in the rig’s operations, reaffirming that Seadrill’s collaborative approach with customers continues to create value for all stakeholders."

About Seadrill

Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies.