Offshore rig owner Seadrill has decided to delist its shares from trading on the Oslo Stock Exchange.
The Simon Johnson-led company has received approvals from its shareholders, and the exchange, with delisting set for September 10 of this year.
Seadrill returned to public markets in Oslo and New York after emerging from bankruptcy protection in 2022.
The latest move will result in Seadrill keeping a single listing on the New York Stock Exchange, “consistent with efforts to simplify its business”.
“While we believe a single listing on the NYSE is most appropriate for Seadrill’s strategy, development, and size, we appreciate the long-standing support of the Norwegian investment community and would like to encourage its continued participation with our company,” said Seadrill’s president and chief executive, Johnson.
The company recently agreed to sell its Qatari jackup business along with three rigs for $338m. When then deal closes, Sedrill will own 10 drillships and manage two as part of a joint venture with Sonangol, four semisubs and a pair of jackups.
