Sevan Drillings ASOTCPK - Current
Thu, Aug. 25, 9:03 AM
Thu, May 26, 6:13 AM
Thu, Feb. 25, 8:28 AM
- Sevan Drillings AS (OTCPK:SDRNF): Q4 EPS of -$6.53
- Revenue of $85.9M (-16.2% Y/Y)
Aug. 13, 2015, 11:09 AM
- North Atlantic Drilling (NADL -5%) names Sevan Drilling (OTCPK:SDRNF) CEO Scott McReaken as its new CFO, replacing Ragnvald Kavli, who will leave the company effective Aug. 17 to pursue other career opportunities.
- McReaken comes with a background within the Seadrill (SDRL -5.9%) group, where he has held various management positions; he will assume his new responsibilities along with his current role as Sevan's CEO.
Aug. 29, 2013, 12:16 PM
- Seadrill (SDRL +1.1%) says it sold ~120M shares of Sevan Drilling (SDRNF.OB) at NOK3.95/share and received a forward agreement with exposure to the same number of shares.
- SDRL controls nearly 298M shares of Sevan, either through direct ownership or forward agreements, representing 50.1% of all issued shares.
- Yesterday, SDRL shares gained 4% after Q2 earnings beat estimates and its dividend was raised 3.4%.
Aug. 23, 2013, 8:09 AM
- Seadrill (SDRL) has been thwarted in an initial effort to acquire Sevan Drilling (SDRNF.OB) after gaining only a handful of shareholder acceptances under a mandatory offer for the company, Upstream reports.
- SDRL had launched a mandatory offer for all outstanding shares in Sevan following its June announcement that it had increased its ownership of the deepwater rig rival to 50.1%.
- SDRL +0.3% premarket.
Aug. 8, 2013, 8:25 AM
- Top management at Sevan Drilling (SDRNF.OB) is rejecting Seadrill's (SDRL) offer to buy their shares in the company, and the board again urges shareholders to wait for a higher price.
- The move comes after SDRL, which holds 50.1% of Sevan, reportedly refused to raise its NOK3.95/share bid under a mandatory offer period for the remaining shares that expires in two weeks.
- The Sevan board reiterates the offer, which equates to NOK2.35B ($398M), is “significantly below the fair market value” of its business prospects and assets.
Jun. 27, 2013, 8:42 AMSeadrill (SDRL) increases its stake in struggling rival Sevan Drilling (SDRNF.OB) to 50.1% and will make a mandatory offer for the rest of the company. SDRL is reacting to Sevan's recently revealed financing plan to issue $500M in senior secured bonds and finalize a $1.45B corporate bank facility to refinance outstanding debt, which SDRL calls "value destructive for shareholders." | Jun. 27, 2013, 8:42 AM | 12 Comments