Seadrill CFO to Step Down in June

Thursday, January 10, 2019

Norwegian offshore drilling rig firm Seadrill Ltd said on Thursday that Chief Financial Officer Mark Morris will step down following completion of the company's financial restructuring.

The company, controlled by Norwegian-born billionaire John Fredriksen, said it has begun a formal search process and that Morris will remain in the role until the end of June to make the transition possible.

Separately, Seadrill Partners said Morris would step down as chief executive officer of that firm at the end of June. Seadrill Partners is a limited liability company formed by Seadrill Ltd to own, operate and acquire offshore drilling rigs.

Seadrill said last July that it had successfully completed its reorganisation, emerging from U.S. Chapter 11 bankruptcy.

The company, once the world's largest offshore driller by market capitalisation, was forced to seek protection from creditors when it was unable to repay debts amassed during boom years to buy new rigs.


(Reporting by Rama Venkat; editing by Jonathan Oatis)

Categories: Finance People Offshore Energy Drilling Offshore jobs Energy jobs

Related Stories

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

Blackford Dolphin Kicks Off Long-Term Drilling Campaign Offshore India

Impending Shortage of Jackups within Ageing Asia Pacific Fleet

Fugro Names Annabelle Vos Director for Middle East & India

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

India Opts Out of Buying Gas from Russia's Sanctioned Arctic LNG 2 Project

TotalEnergies Signs LNG Supply Deal with South Korea’s HD Hyundai Chemical

SLB, Palo Alto Networks Expand Cyber Connection

Shelf Drilling Sells Baltic Jack-Up Rig

Borr Drilling Scoops $332M in Three Jack-Up Rig Contracts

Current News

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

TotalEnergies and Oil India to Jointly Tackle Methane Emissions Issues

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Global Offshore Wind Stumbles to the End of '24

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

Global OTEC Presents OTEC Power Module for Remote Offshore Platforms

Beam’s AI-Driven AUV to Hit Offshore Wind Market in 2025

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com