Seadrill and Oil States Announce Strategic Collaboration to Enhance Offshore Managed Pressure Drilling (MPD) Operations

Collaboration Aims to Transform Offshore Drilling Efficiency and Safety, Bringing MPD into Mainstream Operations

HOUSTON--(BUSINESS WIRE)--Seadrill Limited (“Seadrill”) (NYSE: SDRL), a global leader in oil and gas offshore drilling, and Oil States International, Inc. (“Oil States”) (NYSE: OIS), a global provider of manufactured products and services to customers in the energy, industrial and military sectors, announced today a non-exclusive collaborative relationship aimed at increasing the safety and efficiency of offshore MPD operations. This strategic initiative combines Oil States’ award-winning MPD Integrated Riser Joint (IRJ) system with Seadrill’s high-spec fleet of floating drilling vessels to enhance safety and efficiency while simplifying and standardizing MPD systems operating in the offshore drilling market.

Oil States’ field-proven MPD IRJ improves the safe handling of gas influx while significantly reducing nonproductive time (NPT) typically encountered with deepwater MPD operations. Unlike legacy equipment, Oil States’ IRJ is specifically designed to enhance MPD operational efficiency. This riser joint is more compact, allowing for safer and easier handling with greater functionality, which enables the rig to remain over the well while testing the retrievable seals within the joint. All features of the IRJ can be function and pressure tested while on deck. The IRJ is equipped with twin retrievable annular seals, a passive rotating control device (RCD) bearing assembly and hard-faced bore that eliminates the need for a wear sleeve. Collectively, these advances reduce NPT and unnecessary trips while promoting longer bearing and seal life. With the IRJ, MPD operations are seamless and streamlined, which supports Seadrill’s MPD standardization efforts while delivering safer, more efficient operations to their customers.

Oil States President and CEO, Cindy Taylor commented, “Oil States would like to thank Seadrill for their commitment and trust in our ability to deliver market-leading technologies. We look forward to a long-term relationship with Seadrill as we supply them with multiple MPD IRJs for their fleet of high-performance vessels. While supporting Seadrill’s adoption and integration of our MPD system, we endeavor to optimize our equipment to allow for oil and gas reserves to be unlocked safely and efficiently to meet growing global energy demands.”

Samir Ali, Executive Vice President, Chief Commercial Officer, Seadrill commented: “We are enthusiastic about this strategic collaboration with Oil States. This technology places Seadrill at the forefront of safe, cost-effective deepwater MPD services, offering our customers an unrivaled simplicity of MPD drilling while providing the highest levels of drilling efficiency and safety.”

To learn more about Seadrill’s industry-leading MPD capabilities, visit: Managed Pressure Drilling - Seadrill Limited (NYSE:SDRL) and watch here.

To learn more about the Oil States MPD Integrated Riser Joint, visit: Oil States MPD Systems

About Seadrill

Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies.

For more information, please visit Seadrill’s website at www.seadrill.com.

About Oil States

Oil States is a global provider of manufactured products and services to customers in the energy, industrial and military sectors. The Company's manufactured products include highly engineered capital equipment and consumable products. Oil States is headquartered in Houston, Texas, with manufacturing and service facilities strategically located worldwide. Oil States is publicly traded on the New York Stock Exchange under the symbol "OIS."

For more information, please visit Oil States’ website at www.oilstatesintl.com.