Offshore Drillers Tidewater (TDW), Seadrill (SDRL) Post Mixed Q1 Results as Group Revenue Misses

An aggregate of 21 mixed or offshore upstream E&P stocks reported first-quarter revenues that missed analyst consensus by 0.8%, while average share prices slid 6.6% since their earnings releases. Tidewater (NYSE:TDW) surpassed revenue forecasts by 1.2% to $326.2 million, but a significant miss on EPS and EBITDA sent its stock down 15.6%. Seadrill (NYSE:SDRL) topped revenue expectations by 7.2% with $358 million and also beat EPS and EBITDA estimates, yet its shares declined 4.9%. Vitesse Energy (VTS) and Black Stone Minerals (BSM) missed revenue estimates, with shares falling 9.5% and 4.7%, respectively. APA Corporation (APA) beat forecasts but its stock dropped 4.9%. The underperformance came as market sentiment pivoted from artificial intelligence disruption concerns to geopolitical risk, with the U.S.-Iran conflict fueling anxiety over oil supply, inflation, and global stability.