Seadrill Turns to Loss on $1.8 Billion Writedown in Oil Rout

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  • Shares rise 2.9% after Ebitda beats analysts' estimates
  • Offshore driller still sees challenging market through 2016

Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, reported its first quarterly loss since 2011 as a collapse in oil prices reduced demand for its rigs.

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