Seadrill Reports: Q1 and Extraordinary Dividend

(KBHM) John Fredriksen's rig company Seadrill (SDRL:NO) beat analysts estimates today when they released their results for the first quarter. Seadrill reported profits of $439 million for the quarter, versus $879 million the previous year. The consensus was $368 million.

The company also reported a quarterly dividend of $0.82 per share. An unexpected extraordinary dividend of $0.15 was also reported.Carnegie analyst Frederik Lunde said "They're showing confidence for the future by raising the dividend". 


Seadrill also noted they wish to reach profits of $4 billion before 2015.They're report also says "Day rates have now reached 2007 levels. Compared to 2007, we are seeing a significant number of large and independent oil companies wishing to secure capacity. The driver is mainly the shift from exploration to production with a focus to start production at the correct time".


Seadrill currently trading at NOK 211,50, down one per cent.