Offshore drilling contractor Seadrill is considering selling non-core assets, including its 15.7 percent stake in oil service firm Archer, to reduce its liabilities, the firm’s outgoing chief financial officer said yesterday, according to Reuters. Seadrill, controlled by Norwegian billionaire John Fredriksen, emerged from chapter 11 protection last year, and is betting on the offshore oil market’s recovery to repay its remaining debts and liabilities. The company repurchased in April $311 million out of $880 million in 12 percent senior secured notes due in 2025, issued as part of the chapter 11 plan.
