- Seadrill (NYSE:SDRL) has re-hired long time advisor Houlihan Lokey to negotiate with creditors after the business was hurt further by the rout in oil prices during recent weeks, Bloomberg reports.
- Seadrill, which is weighed with nearly $6B in bank debt, went through a massive restructuring less than two years ago and depended on a swift market recovery that had not happened even before the current turmoil.
- Shares have shed more than 40% of their value since the beginning of March and trade near the lowest level since the company emerged from bankruptcy protection in July 2018.