According to MANA, once the crown jewel in the empire of shipping tycoon John Fredriksen, Oslo-listed Seadrill's shares have fallen 92 percent in the past three years as plunging crude prices and drastic spending cuts by oil companies hammered rig rates.
The company said it would be challenging to find a "fully consensual agreement" before an April 30 deadline. For months Seadrill has been in discussions with more than 40 banks, as well as bondholders, to reach a deal.