OSLO, Feb 17 (Reuters)– Seadrill’s major proprietor, billionaire John Fredriksen, is close to getting to a last arrangement with financial institutions, shareholders and also South Korean shipyards on a monetary restructuring strategy, the exploration gear business claimed in a court declaring.

The Oslo and also New York- detailed company, as soon as the globe’s biggest overseas driller by market price, declared Chapter 11 insolvency security last September after a sharp decrease in oil costs reduced need for gears.

Seadrill stopped working, nonetheless, to fulfill a self-imposed Friday due date, introduced recently, to submit a changed strategy and also information of a last negotiation to a Texas insolvency court.

In its newest court declaring, dated Friday, Seadrill claimed progression had actually been made throughout the last a number of days.

“The parties have narrowed the number of open points and are close to reaching a final agreement,” the business composed.

Seadrill will certainly “continue to progress these discussions towards reaching consensus on a final settlement,” it claimed.

Seadrill had financial debt and also obligations of greater than $10 billion at the time of the preliminary Chapter 11 court declaring in 2014. (Reporting by Terje Solsvik; Editing by Kim Coghill and also Tom Hogue)

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