John Fredriksen-backed Seadrill has filed for Chapter 11 court restructuring in the US for five Asian subsidiaries.
The filing adds to moves taken by the drillship and rig company aimed at sorting out its finances as it navigates a painful offshore market downturn.
The applications were made on Monday in the federal court for the Southern District of Texas on behalf of wholly owned Seadrill GCC Operations, Asia Offshore Drilling, and Asia Offshore Rig 1, 2 and 3.
