Above link from Norway Government shows list of E&P firms that it announced today in a list of what is recommended their $1 Trillion Sovereign Wealth Fund be sold.
Seadrill is Not on this list
For that matter, neither is Transocean, Ensco, Diamond Offshore, Noble Corp or the other offshore drillers.
Mr Market, and its algo's can't understand the nuance of what Norway announced today.
Besides, not a single share of Seadrill stock is owned via the Norge Bank investment management firm which manages Norway's "Government Pension Fund Global" ... which happens to be the SWF that the press release is all about. This GPFG $1+ Trillion fund has $37Bn invested in equity energy shares, of which $8Bn of the $37Bn is invested in the targeted 134 E&P companies on the above list.
Norwegian's will know that there is a SECOND Norwegian SWF fund, managed by Folketrygdfondet.no , that holds a further $200+Bn of equity shares (Local investments, as opposed to Global investments) ... but in shares that the Norwegians consider as Scandanavien firms. It is in the Folketrygdfondet website where you will find the shares that this other Norwegian SWF holds its Seadrill shares, 627,821 at 12/31/18, up almost 150% from what they owned at 9/30/18. In some Norwegian companies Folketrygdfondet owns a big percentage of the equity, such as 10% of Borr Drilling.