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Seadrill Partners Llc News

09 Sep 2019

NYSE Begins to Delist Seadrill Partners

The international offshore drilling contractor Seadrill Partners LLC announced that it has been notified by the New York Stock Exchange that trading in SeaDrill's common units on the exchange has been suspended and the procedure to delist the units has been initiated.According to the UK-based offshore deepwater drilling company, the NYSE's decision was the result of the company's low market capitalization.SeaDrill said its common units are expected to begin trading in the over the counter (OTC) market beginning September 6, under the symbol "SDLPF."The transition to the OTC market is not expected to affect business operations and the Company will continue to file periodic reports with the U.S.

16 May 2016

ExxonMobil Terminates Seadrill Contract

Exxon Mobil terminates earlier the West Capella working in Nigeria in the Usan Field. John Fredriksen-backed drilling firm Seadrill Partners LLC has received a notice of termination from Exxon Mobil.    In accordance with the cancellation for convenience provisions in the West Capella contract, Seadrill Partners will receive a payment of approximately $125 million in two equal installments, the first in the second quarter of 2016 and the second in the first quarter of 2017, plus other direct costs incurred as a result of the early termination.   The contract was a contract extension for 3 years signed by Total SA that was supposed to end in April 2017.   The West Capella is currently being marketed for new work and is expected to be in Tenerife during its idle period.

17 Jun 2015

Seadrill Sells Drillship to Seadrill Partners

West Polaris (Photo: Seadrill)

Seadrill Limited announced that it has entered into an agreement with Seadrill Operating LP, the 58 percent owned subsidiary of Seadrill Partners LLC, pursuant to which Seadrill Operating will acquire all of the shares of Seadrill Polaris Ltd., the entity that owns and operates the drillship, the West Polaris from Seadrill. The acquisition is expected to close within seven days. The West Polaris is a sixth generation, dynamically positioned drillship delivered from the Samsung shipyard in 2008.

28 May 2013

Seadrill Record Best-ever Quarterly Result

Jack-up Rig West Ariel: Photo credit Seadrill

Seadrill announces favourable first quarter 2013 financial results. •    Seadrill completes the sale of 18 tender rigs to SapuraKencana Petroleum Bhd. As of March 31, 2013, cash and cash equivalents were US$361 million, an increase of US$43 million compared to the previous quarter. Net cash from operating activities for the period was US$423 million and net cash used in investing activities for the same period was US$1,074 million, primarily related to additional payments for newbuilds and the acquisition of the Songa Eclipse.

06 Nov 2012

Seadrill Offshore Services Links With Malaysia's SDRL

SapuraKencana Petroleum Berhad (SDRL)  & Seadrill Limited  sign MOU to integrate their tender rig businesses. The new and restructured tender rig business will mark a new phase of cooperation between the two companies. In addition SapuraKencana will also be offered the right to be the manager for three further tender rigs which are not part of the transaction. These rigs, West Vencedor, T-15 and T-16, are today either owned or planned to be owned by Seadrill Partners LLC and are therefore not included in the transaction. The operating rigs and the new-builds are all currently contracted under long-term fixed price contracts with companies such as Chevron, Shell, PTTEP, and Petronas Carigali. The total order backlog amounts to USD 1.55 billion as of end of October 2012.