Seadrill Reveals Contract Extension In Angola

Seadrill Limited (NYSE: SDRL) announced that its joint venture with Sonangol, Sonadrill Holding Ltd, has been awarded a contract extension for the ultra-deepwater drillship Sonangol Quenguela. This extension includes a seven-well priced option, extending operations in Angola by approximately 480 days and committing the rig until June 2028. Seadrill will earn a management fee for providing support to Sonadrill.