Finding an immediate solution to Seadrill's leverage problem is the most pressing issue of the day, but I think the offshore drilling company will be able to hammer out a deal with its lenders. The company has already made progress in reducing its debt burden compared to the 4th quarter of last year. Source: Seadrill If you look at Seadrill's 4th quarter earnings, you will come to the conclusion that despite the downturn in the offshore drilling market, the company actually reports good results. For instance, Seadrill's 4th quarter EBITDA hit $354 million while its operating income totaled $118 million. That's a lot less than a year ago when Seadrill reported EBITDA of $513 million (a decline of 31 percent Y/Y) and operating income