OSLO Feb 22 Oil rig firm Seadrill
postponed its fourth-quarter earnings report and will restate
earnings from 2015 onwards to correctly account for hedges and
swaps relating to currencies and interest rates, it said on
Restating its 2015 earnings will boost the company's
shareholder equity by between $100 million and $150 million,
while a restatement for the first three quarters of 2016 will
add another $20 million to $60 million, it added.
The company, once the jewel in the crown of shipping tycoon
John Fredriksen, has for more than a year been in talks with
creditors to restructure debt and liabilities worth some $14
The company's fourth-quarter earnings will now be released
on Feb. 28, rather than on Feb. 23, the company said.
(Reporting by Terje Solsvik, editing by Nerijus Adomaitis)