EnergyWatch

Debt-plagued Seadrill close to final restructuring plan

John Fredriksen's rig company Seadrill will likely soon be able to present a comprehensive rescue plan for the company, which has been under Chapter 11 since September last year.

Banks, creditors and not least bondholders are close to being able to present a financial rehabilitation plan for John Fredriksen-controlled rig unit Seadrill, report media including Bloomberg.

The media cite documents from a court in Texas currently handling the financial restructuring of heavily indebted Seadrill, which is currently under Chapter 11.

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