Seadrill posted net income far above market consensus in the first quarter and the Norwegian rig giant flagged the possibility of even more newbuild rig orders.
The Oslo-listed company reported a net profit of $439 million, topping a mean forecast of $309 million in a Reuters poll of analysts.
Operating profit of $456 million was up 6% compared with the previous year, while revenue dipped 5% year-on-year to $1.05 billion.
Seadrill said it has secured new charter contracts with total revenue potential of $1.9 billion so far this year, bringing its total order backlog to a record of $13.8 billion.
The John Fredriksen-controlled contractor said the expected growth in its order backlog is set to fuel further newbuild investments, having pursued an aggressive rig ordering strategy in the first quarter with orders for six vessels.
It currently has a total of 18 newbuilds worth a total of $6.9 billion under construction for delivery between 2012 and 2015.
Chief executive Alf Thorkildsen said its newbuilding activity is supported by “strong fundamentals” with exploration in frontier basins driving rig demand.
Since the end of the last quarter, Seadrill has ordered a further three units - two ultra-deepwater semi-submersible rigs at Jurong Shipyard and Hyundai Samho Heavy Industries, and an ultra-deepwater drillship at Samsung Heavy Industries.
The company said it has fixed price options and yard slots lined up on a number of these contracts, suggesting further newbuild orders are on the cards.