Offshore drilling contractor Seadrill again delayed restructuring its $14 billion in debt and liabilities on Wednesday and reiterated that Chapter 11 bankruptcy was likely. Once the biggest offshore rig firm by market value and the crown jewel in the business empire of Norwegian billionaire John Fredriksen, Seadrill shares have fallen 99 percent from a September 2013 peak. The company’s business has struggled as energy firms have slashed investment due to a more than 50 percent fall in the price of crude oil since 2014. “(Seadrill) has reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until Sept. 12,” the firm said in a statement, pushing back a previous July 31 deadline and the latest of several delays. The company […]