SFL Corporation Ltd. announced that the Oslo District Court issued a judgment in favor of SFL’s rig-owning subsidiary in a legal case against subsidiaries of Seadrill Ltd. The dispute concerned the redelivery condition of the drilling rig Hercules in December 2022.
The court ordered certain Seadrill subsidiaries to pay SFL approximately $48 million in compensation. This amount includes late payment interest and legal costs, resulting from Seadrill's breach of contract.
SFL will review the details of the court’s judgment, noting that the ruling is subject to appeal from both sides by March 5, 2025. This favorable outcome represents a potential future cash inflow for SFL.
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