OSLO (Bloomberg) — Bermuda-based Seadrill Ltd., the offshore drilling company founded by billionaire John Fredriksen, surged the most in six months in Oslo trading on Friday after raising its dividend.

Seadrill jumped 11.4 kroner, or 9.2 percent, to 135.9 kroner, valuing the Hamilton, Bermuda-based company at 54.2 billion kroner ($9.1 billion).

The company raised its quarterly dividend target to 55 cents from 50 cents and said it sees the "potential" for future growth in the payout. Seadrill forecast a "continued solid development" in earnings this year and next.

"The fact that they raised the dividend by 10 percent indicates that they expect a strong market," said Endre Storloekken, an analyst at Danske Markets Equities who has an "accumulate" rating on the stock.

Net income in the fourth quarter was $379.1 million, or 88 cents a share, compared with a loss of $706.5 million, or $1.77, a year earlier, Seadrill said.

The recent pick-up in the market for so-called jack-up rigs, whose legs extend to the seabed and are typically used in shallower waters, is an "early indicator of a strengthening of the overall offshore market," Seadrill said.

While activity has been slower in the ultra-deepwater market, it is "promising" to see that demand is picking up in regions other than Brazil, which has been the main driver for demand in this area, the company said. "Seadrill is becoming increasingly confident with the jack-up market outlook, something we believe will prompt it to act sooner rather than later on the consolidation front," analyst Anders Hagen said.