John Fredriksen drillship company Seadrill has delayed its fourth quarter results after finding problems with its accounting.

It has postponed the announcement from 28 February after determining there was a "material weakness" in internal controls over financial reporting relating to interest rate and cross-currency hedges.

Seadrill needs additional time to complete a review of the accounting for these.

It said a restatement of its 2015 financial statements is required to correctly reflect US GAAP accounting principles.

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