Seadrill has added roughly $260 million to its contract backlog after winning two Gulf of Mexico drillship awards, a move that strengthens revenue outlook even as the region's market remains subdued. The contracts, both awarded by LLOG Exploration , a subsidiary of Harbour Energy , will keep the company's ultra-deepwater rigs active in the U.S. Gulf. Seadrill will extend the West Neptune drillship for 365 days, with work slated to start in September 2026, and secure a 270-day contract for the West Vela that is expected to commence in August 2026. CEO Samir Ali said the new awards build on a long-standing relationship with LLOG and reflect strong operational performance from both rigs, adding that the backlog growth supports revenue visibility and free cash flow. Looking ahead, Seadrill expects global floater utilization to improve heading into 2027, positioning both rigs for continued demand and reinforcing the company's financial resilience.