Bankruptcy News

Buyers Reportedly Line-up for a Crack at Seadrill

Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday.Seadrill is trying to emerge from its second U.S. Chapter 11 bankruptcy in four years: like many in the industry, it expanded its drilling rigs too aggressively in the mid-2010s to withstand a subsequent plunge in energy prices and rig hire rates.