◼ Transocean – has $7.1 billion in net debt, but the company has managed to avoid filing for bankruptcy for a sometime now, and it is not expected to given the current oil market reversal.
◼ Borr Drilling – has $1.9 billion of long-term debt, yet the company managed to secure agreements with its creditors for deferring the maturity of its $595 million debt and deferring the majority of interest payments related to the company’s newbuild financing.
◼ Noble Drilling – emerged from bankruptcy with a reduced debt from $3.6 Billion to less than $400 million of debt and liquidity of approximately $600 million.
◼ Pacific Drilling – emerged from bankruptcy and eliminated its $1.1 Billion in debt.
◼ Valaris plc – expected to exit chapter 11 bankruptcy soon and eliminate its $7 billion debt through equitization with a $520 million capital injection.
◼ Seadrill – its various entities remains under chapter 11 of bankruptcy protection with a tital debts and liabilities at $7.3 billion.
◼ Diamond Offshore – remains under chapter 11 bankruptcy protection and working on a plan to eliminate its debt through equitization of its senior unsecured notes, removing over $2.1 billion of its debt $2.6 Billion Debt.
