Search results for: Seadrill Partners

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  • 22 January 2019
    Exploration & Production

    Seadrill Partners, an affiliate of offshore driller Seadrill, will reduce the quarterly distribution to its common unitholders from 10 cents per unit to 1 cent per unit. “The move reflects the slower than anticipated recovery in dayrates and the company’s desire to preserve liquidity ahead of debt maturities in the second half of 2020 and […]

  • 19 June 2019
    Business & Finance

    Offshore drilling contractor Seadrill Partners has made several additions to its management team including a new CEO and a CFO.

  • 27 November 2018
    Exploration & Production

    Offshore Driller Seadrill Partners has secured a contract for its West Capella drillship with Petronas in Malaysia.

  • 18 December 2015
    Business & Finance, Exploration & Production

    Offshore driller Seadrill Partners LLC has decided to reduce the quarterly distributions to its shareholders. The company cited the depressed drilling market as the reason for the move. According to Seadrill Partners, the company will reduce the quarterly distribution to $0.25 per unit to its common unitholders, down from the current quarterly level of $0.5675. […]

  • 26 June 2015
    Business & Finance, Exploration & Production

    Seadrill Partners LLC, a London-based company formed by Seadrill Limited to own, operate and acquire offshore drilling rigs, has appointed Andrew Cumming to its board of directors. The company says that Cumming will also serve on the conflicts committee of Seadrill Partners. As said in the statement, Cumming has almost 40 years’ experience in banking and risk […]

  • 6 September 2019
    Business & Finance

    The New York Stock Exchange gas decided to suspend trading in securities of Seadrill Partners and has started procedure to delist the company, an affiliate of drilling contractor Seadrill, from the exchange. The NYSE reached its decision due to Seadrill Partner’s low market capitalization.

  • 22 August 2018
    Exploration & Production

    Offshore drilling company Seadrill Partners’ second-quarter revenues rose, boosted by a rig litigation win.

  • 19 October 2012

    Seadrill Partners, a subsidiary of international drilling contractor Seadrill Limited, today announced that it priced its initial public offering of 8,750,000 common units at a price of $22.00 per unit. Seadrill Partners has granted the underwriters a 30-day over-allotment option to purchase up to 1,312,500 additional common units, at the same price per unit, to cover […]

  • 3 December 2013
    Business & Finance

    Seadrill Limited announced yesterday that it has entered into an agreement with Seadrill Partners (Seadrill Partners) pursuant to which the Company will sell to Seadrill Operating LP, the Company’s 70% owned subsidiary (Seadrill Operating), all of the ownership interests in the entities that own and operate the semi-submersible drilling rig, the West Leo (Leo Dropdown), […]

  • 15 October 2012

    Seadrill Partners, today announced that it has started an initial public offering of 8,750,000 common units, and, according to Reuters, the company plans to raise as much as $193 million. Seadrill Partners, a subsidiary of international drilling contractor Seadrill Limited, intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,312,500 additional […]

  • 14 October 2013
    Business & Finance

    Seadrill Limited has entered into an agreement to sell the company that owns the tender rig T-16 to Seadrill Partners LLC for a total purchase price of US$200 million, less approximately US$93 million of debt outstanding under the credit facility secured by the T-16. Seadrill Partners will acquire the company that owns the T-16 in […]

  • 3 December 2013

    Seadrill Limited announced today that it has entered into an agreement with Seadrill Partners pursuant to which the Company will sell to (i) Seadrill Operating LP, the Company’s 70% owned subsidiary (“Seadrill Operating”), all of the ownership interests in the entities that own and operate the semi-submersible drilling rig, the West Leo  , and (ii) […]

  • 15 October 2013
    Business & Finance

    Seadrill Limited has entered into an agreement to sell the company that owns the tender rig T-16 to Seadrill Partners LLC for a total purchase price of US$200 million, less approximately US$93 million of debt outstanding under the credit facility secured by the T-16. Seadrill Partners will acquire the company that owns the T-16 in […]

  • 30 January 2013

    Seadrill Partners LLC  announced today that  Bart Veldhuizen has been appointed to its board of directors. Veldhuizen will also serve on the conflicts committee of Seadrill Partners. Veldhuizen has worked in the shipping industry since 1994, on both the banking and non-banking side, most recently as the Managing Director & Head of Shipping of Lloyds […]

  • 30 April 2013
    Business & Finance

    Seadrill Partners LLC, a limited liability company recently formed by Seadrill Limited to own, operate and acquire offshore drilling rigs, announced yesterday that Tony Curry has been appointed to its board of directors. Curry will also serve on the conflicts committee of Seadrill Partners. Simultaneously, Bert Bekker (Director of Seadrill Partners LLC) will step down from the conflicts […]

  • 17 August 2017
    Business & Finance, Exploration & Production

    Indebted offshore driller Seadrill Limited has made changes to its credit facilities to insulate Seadrill Partners, a limited liability company formed by Seadrill Limited to own drilling rigs, from its restructuring. Seadrill Limited informed on Thursday it has completed amendments to three secured credit facilities that relate to rigs bought by Seadrill Partners from the company […]

  • 27 June 2014
    Business & Finance

    Seadrill Partners LLC announced today that it has closed the proposed US$1.1 billion add-on senior secured term loan B announced on June 5. The add-on term loan was upsized from US$1 billion and priced at the existing rate of Libor plus 3%. The loan will be borrowed by two of the Company’s subsidiaries, as borrowers, […]

  • 16 May 2016

    U.S. oil company ExxonMobil has terminated a drillship contract it had with Seadrill Partners, a subsidiary of the offshore driller Seadrill. The drilling company on Friday said it had received a notice of termination for the West Capella drillship. According to Seadrill’s fleet status report, the rig’s contract with ExxonMobil in Nigeria was to expire […]

  • 5 December 2016
    Exploration & Production

    Following a force majeure declared in October 2016, oil company Tullow Oil has terminated a drilling contract it had with Seadrill Partners for an offshore drilling rig in Ghana. Seadrill Partners, the offshore driller, said Friday it had received a notice of termination from Tullow Oil Ghana for the West Leo drilling contract on December 1, […]

  • 30 March 2015
    Exploration & Production

    British oil giant BP has terminated a contract for the West Sirius semi-submersible drilling rig, owned by Seadrill Partners. In a statement issued today, Seadrill said the termination would become effective by early May 2015, following the rig completing the current well and demobilization. The rig is operating in the U.S. Gulf of Mexico. Prior […]

  • 4 November 2014
    Business & Finance

    Seadrill Limited has entered into an agreement with Seadrill Partners according to which the company will sell to Seadrill Capricorn Holdings LLC, Seadrill Partners’ 51% owned subsidiary, all of the ownership interests in the entities that own and operate the drillship, the West Vela. Seadrill Limited says that the Vela acquisition, which is expected to […]

  • 18 July 2014
    Business & Finance

    Seadrill Partners LLC has entered into an agreement with Seadrill Limited pursuant to which it will acquire an additional 28% interest in Seadrill Operating LP for approximately $373 million. After completion of the acquisition, the Company will own a 58% interest in Seadrill Operating which is now in line with the ownership level of the […]