News Releases

Baker Botts Represents Seadrill Limited in its Acquisition of Aquadrill LLC


Deal Description: Seadrill Limited (“Seadrill”) and Aquadrill LLC (“Aquadrill”) announced today that they have entered into a definitive merger agreement under which Seadrill has agreed to acquire Aquadrill in a stock-for-stock merger. The companies expect the transaction to close in the first half of 2023, subject to certain customary conditions. The transaction represents approximately $960 million equity value.

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. Seadrill’s high-quality, technologically advanced fleet spans all asset classes allowing its experienced crews to conduct operations from shallow to ultra-deep-water environments.

Aquadrill owns eight offshore drilling units, including four ultra-deepwater drillships, one ultra-deepwater harsh environment semi-submersible and three tender assist drilling units.

Baker Botts is representing Seadrill in the transaction.

For more information, please see the full news release here.

Baker Botts Lawyers/Office Involved:

Corporate: David Emmons (Partner, Dallas), Clint Rancher (Partner, Houston), Josh Gonzales (Associate, Houston), Marshall Heins (Associate, Houston), Michael Donnellan (Associate, Houston), Daniel Jung (Associate, Houston)

Antitrust: Tom Fina (Partner, Washington, D.C.), Jeff Oliver (Partner, Washington, D.C.), Paul Lugard (Partner, Brussels), Michael Bodosky (Special Counsel, Washington, D.C.), Roxanne Tonnelier (Senior Associate, Brussels)

Tax: Derek Green (Partner, Houston), Katie McEvilly (Senior Associate, Houston)

Employee Benefits: Robin Melman (Partner, New York), Katie Birnhak (Associate, New York)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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