USA: Seadrill Finalizes Sale of T-15 Tender Rig

Seadrill Limited has today completed the previously announced transaction to sell the T-15 tender rig to Seadrill Partners.

The agreed upon sale is for a total price of US$210 million, less approximately US$100 million of debt outstanding under the credit facility secured by the T-15.

The balance of the total consideration is being financed with vendor financing provided by Seadrill in the form of a loan in the amount of approximately US$110 million.

The rig is currently undergoing acceptance trials in Singapore prior to mobilizing to its drilling location, scheduled for mid-June.

[mappress]
Seadrill, May 17, 2013