May 23, 2019 / 1:52 PM / a month ago

Seadrill considers selling non-core assets to reduce debt-CFO

OSLO, May 23 (Reuters) - Offshore drilling contractor Seadrill is considering selling non-core assets, including its 15.7% stake in oil service firm Archer , to reduce its liabilities, the firm’s chief financial officer said on Thursday.

The company, which came out of U.S. Chapter 11 bankruptcy proceedings last year, expects its group capital expenditure for 2019 to be in a range of $150-250 million, Seadrill’s outgoing chief financial officer Mark Morris told a telephone conference.

Morris is stepping down from his position by the end of June and the company is expected to announce his replacement in a few weeks. (Reporting by Nerijus Adomaitis, editing by Victoria Klesty)

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