v3.26.1
Related party transactions
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
As of March 31, 2026, our major related party is the Sonadrill joint venture, over which we hold significant influence.
Related party revenues
Our related party revenues include the following:
Three months ended March 31,
 (In $ millions)
20262025
Management fees revenues (a)
60 58 
Add-on services3 3 
Reimbursable revenues (b)
4 10 
Leasing revenues (c)
8 8 
Total related party operating revenues75 79 
(a) Seadrill provides management and administrative services and operational and technical support services to Sonadrill. These services are charged on a dayrate basis.
(b) Reimbursable revenues primarily relate to Sonadrill project work on the Libongos, Quenguela and West Gemini rigs.
(c) We earned leasing revenues on the charter of the West Gemini to Sonadrill.
Related party balances
As of March 31, 2026, Seadrill's related party receivable balance due from Sonadrill was $7 million, recorded in "Amounts due from related parties, net" within our unaudited Condensed Consolidated Balance Sheet as of March 31, 2026.
As of December 31, 2025, Sonadrill prepaid management fees of $3 million to Seadrill, which was recorded in "Other current liabilities" within our unaudited Condensed Consolidated Balance Sheet as of December 31, 2025.