Seadrill Secures $260 Million Contract Awards From LLOG Exploration

-- Seadrill (SDRL), an offshore drilling company, said Wednesday it has secured $260 million in contract awards for ultra-deep-water drill ships West Neptune and West Vela from Harbour Energy subsidiary LLOG Exploration.

Under the agreement, the West Neptune contract will be extended for 365 days beginning in September. West Vela, meanwhile, was awarded a 270-day program starting in August.

With the new contracts added to the company backlog, Seadrill said it would have better revenue visibility and free cash flow generation, helping the company navigate a softer US Gulf market.

Price: $47.47, Change: $+0.45, Percent Change: +0.96%

TSX Closer: The Index Recovers From Tuesday's Slump, Boosted By Higher Commodity Prices and Cannabis Stocks

The Toronto Stock Exchange on Wednesday recovered from its day-prior slump, boosted by cannabis stocks and higher commodity prices, even as National Bank said the positive impact of commodities on the real economy is expected to be limited.The resources-heavy S&P/TSX Composite Index closed up 146.81 points, or 0.4%, to 33,955.11, after losing near 550 points on Tuesday, only its third loss in the last 16 sessions.Most sectors were higher, led by Health Care, up 6.6%, amid reports the U.S. Justice Department will ease restrictions around the cannabis market this week. Among individual related stocks, Curaleaf (CURA.TO) jumped 25%.Among other sectors, Base Metals was up 3.7% and Telecom up 2.75%. The Battery Metals Index was down 5.8%.National Bank published its Monthly Economic Monitor on Economics and Strategy report entitled 'Can the commodities boom revitalize the economy?'. National Bank noted the commodity price surge is bolstering terms of trade, public finances, and corporate profits in Canada's resource sector. "But its positive impact on the real economy is expected to be limited, it said, before adding: "Despite a sharp rise in energy and commodity prices, the resource sector, which is not labour-intensive and faces a lack of incentives to invest, is unlikely to generate many jobs, while weakness persists in other sectors, including manufacturing."At the same time, the bank said, consumers face several headwinds, including inflation that is set to rise temporarily and a downturn in the housing market is exacerbated by population decline, which is resulting in a negative wealth effect.The bank added: "The slowdown in immigration is limiting economic growth in 2026, which is expected to come in at 1.0%, a pace sufficient for the labour market to improve somewhat by the end of the year. A relatively smooth renegotiation of CUSMA is necessary for such an improvement to materialize."Of commodities today, West Texas Intermediate crude oil rose after the United States extended a ceasefire with Iran while continuing to blockade the country's ports, and as Iran attacked ships in the Persian Gulf while rejecting talks with the U.S. until the blockade is lifted. WTI crude oil for June delivery closed up US$3.29 to settle at US$92.96 per barrel, while June Brent oil was last seen up US$3.65 to US$102.13.Gold traded higher on Wednesday following two losing sessions after the United States extended a ceasefire related to its war on Iran. Gold for June delivery was up US$35.70 to US$4,755.30 per ounce.

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Geopark Insider Sold Shares Worth $882,900, According to a Recent SEC Filing

James Franklin Park, 10% Owner, Director, on April 20, 2026, sold 100,000 shares in Geopark (GPRK) for $882,900. Following the Form 4 filing with the SEC, Park has control over a total of 8,717,251 common shares of the company, with 912,118 shares held directly and 7,805,133 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1464591/000095010326006040/xslF345X05/ownership.xml

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Seadrill Secures $260 Million Contract Awards From LLOG Exploration

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