Seadrill Record Best-ever Quarterly Result
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$1,074 million, primarily related to additional payments for newbuilds and the acquisition of the Songa Eclipse.
Seadrill Buys Ultra-Deepwater Rig 'Songa Eclipse'
A subsidiary of Seadrill to buy the ultra-deepwater semi-submersible rig 'Songa Eclipse' for a price of US$ 590-million. The rig was delivered from the Jurong Shipyard in Singapore in 2011, and is currently operating for Total offshore Angola on a fixed contract ending in December 2013. In addition Total has three one-year options to further extend the contract. Seadrill intends to take delivery of the rig during December 2012 after which it will have an immediate impact on Seadrill's cash flow and financial results.