v3.26.1
Related party transactions
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
As of June 30, 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 June 30,Six months ended June 30,
 (In $ millions)
2026202520262025
Management fees revenues (a)
64 62 124 120 
Add-on services3 3 6 6 
Reimbursable revenues (b)
7 6 11 16 
Leasing revenues (c)
8 8 16 16 
Total related party operating revenues82 79 157 158 
(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 earn leasing revenues on the charter of the West Gemini to Sonadrill.
Related party balances
As of June 30, 2026, Seadrill's related party receivable balance due from Sonadrill was $24 million, recorded in "Amounts due from related parties, net" within our unaudited Condensed Consolidated Balance Sheet as of June 30, 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.