SDRL — what changed in the latest 10-Q
A section-by-section comparison of SDRL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-04 vs the prior 10-Q · 2026-08-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +29 | −33 | ~44 | 45 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-04
During the three months ended September 30, 2026, the Company repurchased an aggregate of 547,674 Shares with a weighted average Share price of $40.34, amounting to approximately $22 million. During the nine months ended September 30, 2026, the Company repurchased an aggregate of 1,058,752 Shares wi…
During the three months ended September 30, 2026, the Company canceled 1,058,752 treasury Shares repurchased.
Ongoing conflicts in the Middle East (including Iran) and the unprecedented closure of the Strait of Hormuz have significantly disrupted, and continue to disrupt, the normal flow of oil, refined petroleum products, and related commodities, resulting in higher oil prices.
The average number of rigs on contract decreased to nine during the three months ended September 30, 2026, compared to 10 during the three months ended September 30, 2025. This resulted in a decrease in contract revenues of $10 million in the three months ended September 30, 2026 compared to the thr…
The decrease was primarily driven by the West Carina, as its contract in Brazil ended in June 2026, and therefore, was not on contract during the three months ended September 30, 2026, compared to being fully contracted during the three months ended September 30, 2025. The Sevan Louisiana and West E…
Text removed vs the prior filing · source: 10-Q · 2026-08-10
On June 30, 2026, Seadrill Finance issued $700 million in aggregate principal amount of 6.750% Senior Notes due 2034 in an offering conducted pursuant to Rule 144A and Regulation S under the Securities Act. The 2034 Notes are fully and unconditionally guaranteed, jointly and severally, by the Compan…
On June 30, 2026, in connection with the issuance of the 2034 Notes, Seadrill Finance satisfied and discharged the 2030 Notes Indenture in accordance with its terms.
Refer to "Liquidity and Capital Resources - Borrowing Activities" and Note 9 - "Debt" for additional information.
On June 16, 2026, Seadrill Limited, along with its subsidiary, Seadrill Finance, entered into the Amendment to the Credit Agreement to, among other things, increase the commitments for revolving borrowings from $225 million to $300 million and extend the maturity date from 2028 to 2031. The Amendmen…
Refer to "Liquidity and Capital Resources - Capital allocation framework and Share repurchase program" and Note 9 - "Debt" for additional information.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice