The Oslo-listed contractor, backed by rig giant Seadrill, reported a quarterly net loss of $53.1 million, reversing a year-earlier profit of $26.4 million, as operating revenue dropped 39% year on year to $59.6 million mainly due to lower dayrates for a pair of its cylindrical rigs.
Sevan’s bottom line was further dragged down by the non-cash asset impairment of $37.5 million, including $25.8
