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Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 3.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 4.5%.The Philadelphia Oil Service Sector Index was climbing 5.3%, and the Dow Jones US Utilities Index was decreasing 1.1%.In geopolitical news, President Donald Trump signaled a US emphasis on increasing economic pressure on Iran, saying that Washington is "low-keying" negotiations with the country, CNN reported. Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions, including compensation and an end to sanctions and military threats, before the waterway is reopened, Reuters reported.Front-month West Texas Intermediate crude oil rose 5% to $82.06 a barrel, and the global benchmark Brent crude contract advanced 4.8% to $87.54 a barrel. Henry Hub natural gas futures climbed 4.6% to $2.78 per 1 million BTU.In sector news, Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. UBS maintained a buy rating on Phillips 66 with a $235 price target. Phillips 66 shares were up 5.5%.California Resources (CRC) shares were up 3.5% after it reported its Q2 results. The company also said Monday that it agreed to acquire Crimson Midstream from CorEnergy Infrastructure Trust for a total cash consideration of $63 million.National Energy Services Reunited (NESR) shares jumped more than 23% after it posted higher Q2 adjusted earnings and revenue.Seadrill (SDRL) shares climbed 7.9% after the company reported that it swung to Q2 earnings as operating revenue increased during the period and Seadrill raised its 2026 sales outlook.

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Wire

Update: Seadrill Shares Rise After Q2 Earnings, Revenue Beat; 2026 Revenue Outlook Lifted

Seadrill (SDRL) shares were up 9% in afternoon trading on Monday after the company posted better-than-expected Q2 earnings and total operating revenue, as well as raised its full-year revenue guidance.The company reported Q2 earnings of $0.47 per diluted share, swinging from a loss of $0.68 a year earlier.Analysts polled by FactSet expected $0.37.Total operating revenue for the quarter ended June 30 was $449 million, up from $377 million a year earlier.Analysts expected $391.6 million.For 2026, the company raised its projected total operating revenue guidance to a range of $1.50 billion to $1.55 billion, up from its previously $1.43 billion to $1.48 billion forecast. Analysts expect $1.51 billion.Price: $47.14, Change: $+3.90, Percent Change: +9.02%

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Sectors

Sector Update: Energy Stocks Rise Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 3.4% and the State Street Energy Select Sector SPDR ETF (XLE) adding 4%.The Philadelphia Oil Service Sector Index was climbing 4.7%, and the Dow Jones US Utilities Index was decreasing 0.9%.In geopolitical news, President Donald Trump signaled a US emphasis on increasing economic pressure on Iran, saying that Washington is "low-keying" negotiations with the country, CNN reported. Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions, including compensation and an end to sanctions and military threats, before the waterway is reopened, Reuters reported.Front-month West Texas Intermediate crude oil rose 4.3% to $81.52 a barrel, and the global benchmark Brent crude contract advanced 4.3% to $87.14 a barrel. Henry Hub natural gas futures climbed 4.8% to $2.79 per 1 million BTU.In sector news, President Donald Trump has extended a Jones Act waiver letting foreign ships transport commodities between US ports for 90 more days, but he also narrowed the scope of relief from the law, Bloomberg reported Monday, citing a White House official. The new limits, which were finalized Monday along with the extension, require case-by-case reviews of individual voyages, the report said, citing the official.In corporate news, California Resources (CRC) shares were up 4% after it reported its Q2 results. The company also said Monday that it agreed to acquire Crimson Midstream from CorEnergy Infrastructure Trust for a total cash consideration of $63 million.National Energy Services Reunited (NESR) shares jumped 23% after it posted higher Q2 adjusted earnings and revenue.Seadrill (SDRL) shares climbed past 8% after the company reported that it swung to Q2 earnings as operating revenue increased during the period and Seadrill raised its 2026 sales outlook.

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Sectors

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with The State Street Energy Select Sector SPDR ETF (XLE) up 1.2%.The United States Oil Fund (USO) was up 3.1% and The United States Natural Gas Fund (UNG) was 3.9% higher.Front-month US West Texas Intermediate crude oil was 1.7% higher at $79.53 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $85.03 per barrel, and natural gas futures were up 4.2% at $2.77 per 1 million British Thermal Units.National Energy Services Reunited (NESR) stock was up more than 7% after the company posted higher Q2 adjusted earnings and revenue.Seadrill (SDRL) shares were up over 7% after the company reported that it swung to Q2 earnings as operating revenue increased during the period and Seadrill raised its 2026 sales outlook.Eni (E) and United Arab Emirates-based Khazna Data Center have received approval from the European Commission to create a joint venture focused on the construction, management and operation of data centers, the Commission said. Shares of Eni were 0.9% higher pre-bell.

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Commodities

Seadrill Contract Backlog Expands; Fleet Economic Utilization Up Sequentially

Offshore drilling company Seadrill (SDRL) said Monday its backlog as of Aug. 10 stands at about $2.9 billion, expanding from the May level following around $200 million worth of contract awards and extensions in the US Gulf and Malaysia.West Vela's one-year contract award in the US Gulf beginning in June 2027 added about $161 million to contract backlog, while West Capella's 75-day contract extension in Malaysia contributed $26 million. Sevan Louisiana also secured a 45-day contract extension in the US Gulf.Seadrill also said the economic utilization of its fleet in the three months ended June 30 reached 95.5%, up compared with 94.6% recorded in the previous quarter.The average number of rigs on contract in Q2 was 10, with an average contractual day rate of $360,000. This compared with Q1's 9 rigs and day rate of $343,000.More operating days for the West Jupiter and the West Capella, along with an improved average day-rate across the fleet, underpinned the company's Q2 revenue, which saw a quarter-over-quarter increase.

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Research

Capital One Initiates Seadrill at Overweight With $55 Price Target

Seadrill (SDRL) has an average rating of overweight and mean price target of $56.67, according to analysts polled by FactSet.

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Equities

Seadrill Unit Prices Offering of Senior Notes due 2034

Seadrill (SDRL) said late Monday it its unit Seadrill Finance priced an upsized offering of $700 million of 6.75% senior notes due 2034.The offering is expected to be completed on June 30, subject to closing conditions, according to a statement.Net proceeds will be used to redeem the subsidiary's outstanding 8.375% senior secured second lien notes due 2030, cover offering-related costs, and for general corporate purposes, the company said.

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Wire

Seadrill Announces $600 Million Senior Notes Offering

Seadrill (SDRL), through its subsidiary Seadrill Finance, intends to offer $600 million of senior unsecured notes due 2034 in a private offering, the company said Monday.The proceeds, together with cash on hand, will be used to redeem all outstanding 8.375% senior secured second lien notes due 2030 and to satisfy and discharge the related indenture, the company said.Seadrill shares were down about 2% in Monday trading.Price: $42.49, Change: $-1.80, Percent Change: -4.05%

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Wire

Seadrill Insider Sold Shares Worth $1,403,668, According to a Recent SEC Filing

Todd D Strickler, Senior Vice President & General Counsel, on June 10, 2026, sold 31,409 shares in Seadrill (SDRL) for $1,403,668.SEC Filing:https://www.sec.gov/Archives/edgar/data/1737706/000119312526269259/xslF345X05/ownership.xmlPrice: $44.54, Change: $+0.15, Percent Change: +0.34%

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Insider Trading

Seadrill Insider Sold Shares Worth $605,566, According to a Recent SEC Filing

Marcel Wieggers, Senior Vice President, Operations, on June 11, 2026, sold 13,475 shares in Seadrill (SDRL) for $605,566.SEC Filing:https://www.sec.gov/Archives/edgar/data/1737706/000119312526269254/xslF345X05/ownership.xmlPrice: $44.56, Change: $+0.17, Percent Change: +0.38%

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Commodities

Engineering Firm Seadrill's Contract Backlog Grows to $3.1 Billion in Q1

Oil industry engineering firm Seadrill (SDRL) has recently added $860 million to its contract pipeline with work secured in the U.S. Gulf, Brazil and Angola, taking the total to $3.1 billion, it said in an earnings update on Monday.Contract revenues in the three months to March 31 were $277 million, up from $273 million in Q4, 2025.CEO Samar Ali said that growing demand for deepwater rigs has been evidenced by contracts secured in multiple global regions at a time of heightened focus on energy security providing "tailwinds into 2027".Though the quarter was loss-making for the company, with some outlays for capital additions and long-term maintenance, it managed to complete the West Jupiter and West Capella projects ahead of schedule and within budget.The two rigs started operation during Q1 and will provide mobilization revenue to the company in Q2.The company's work backlog was boosted by $480 million by a three-year extension to the contract on West Polaris with Brazilian state-run energy company Petrobras that starts in Jan. 2028.The West Neptune and West Vela rigs in the US Gulf obtained contracts with LLOG, a subsidiary of Harbor Energy, which added $260 million to contract backlog in that region. West Neptune obtained a 365-day contract extension starting in Oct. 2026.For West Vela, the program duration is 270 days commencing in September.The contract for the Sonangol Quenguela rig with TotalEnergies has been extended for 480 days from July 2028 while the West Carina contract in Brazil was extended to June 2026, the company said.

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Commodities

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%

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Sectors

Sector Update: Energy Stocks Edge Higher Premarket Wednesday

Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.3%.The United States Oil Fund (USO) was down 0.5% and The United States Natural Gas Fund (UNG) was 1.4% higher.Front-month US West Texas Intermediate crude oil was 2% higher at $91.43 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $100.22 per barrel, and natural gas futures were up 2% at $2.75 per 1 million British Thermal Units.Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg News reported, citing people familiar with the matter. Shares of Exxon Mobil were 0.1% higher pre-bell.Seadrill (SDRL) shares were up 0.2% after the company said it secured two offshore drilling contracts from LLOG Exploration, a subsidiary of Harbour Energy, adding about $260 million to its backlog.

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