As the marine-based contractor narrows its focus on the 'floater' market segment – basically ships with rigs on them – it last month sold three 'tender assist' vessels for US$85 million and revealed its intention to sell its fleet of jack-up (legged rigs) in Qatar. On the corporate front, the company's board has greenlit a stock buyback, of up to US$250 million, which it says "underscores its confidence in its future prospects and its commitment to delivering shareholder value." In the floaters business, Seadrill said it has an order backlog representing some US$2.5 billion of contracts and highlighted it believes this segment offers the most growth and value.