5 Top Performing Energy Stocks in January 2023

4. Seadrill Limited (NYSE:SDRL)

Performance in January: +40%

Deepwater drilling contractor Seadrill Limited (NYSE:SDRL)’s shares jumped about 40% in January 2023. In December, Seadrill Limited (NYSE:SDRL) said it will acquire Aquadrill in an all-stock deal for about $958 million. Seadrill Limited (NYSE:SDRL)’s third-quarter performance was also strong. Its revenue jumped 21.2% on a YoY basis in the period to come in at $269 million. Seadrill Limited (NYSE:SDRL)’s management said that its West Saturn and West Carina have recently started operations in Brazil for their long-term contracts.

In November, Seadrill Limited (NYSE:SDRL) announced that its 50-50 joint venture with Angola’s state-owned Songanol was awarded a $327 million extension for the Libongos drillship for offshore operations.