Seadrill Ivory Coast Contract Terminated
Seadrill Partners, the deep-water drilling contractor for the petroleum industry, has received an early termination notice from an unnamed operator for the West Vencedor rig contract offshore Ivory Coast.The contract was expected to start in 3Q 2019. In January, the rig received a six-well contract with three option wells.The West Vencedor unit had recently completed…
Seadrill CFO to Step Down in June
Norwegian offshore drilling rig firm Seadrill Ltd said on Thursday that Chief Financial Officer Mark Morris will step down following completion of the company's financial restructuring.The company, controlled by Norwegian-born billionaire John Fredriksen, said it has begun a formal search process and that Morris will remain in the role until the end of June to make the transition possible.Separately…
Seadrill Bags Contract For West Aquarius
Seadrill Partners (SDLP) has secured a one well contract with BP Canada Energy Group ULC for the West Aquarius in eastern Canada. The contract is expected to commence in the second quarter of 2018. The backlog for the contract, estimated to be a maximum of 120 days, is expected to be approximately $31 million. Last week, SDLP announced that Seadrill Limited, on behalf of SDLP…
Seadrill Q3 core earnings beat forecast, shares up
* "It is impressive to see how much control Seadrill has over its costs... Underlying costs are down 30 percent from the peak. * Its cash and cash equivalents were $1.3 billion as of Sept. * Still "it does not change our view that the share will be weighed by balance sheet challenges. * On Nov. * Ebitda will be lower for Q4, at around $340 million. This is based on fourth quarter expected operating income of $146 million.
Seadrill Sells Drillship to Seadrill Partners
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.
BP Terminates GoM Rig Contracts
BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices. Offshore drilling company Ensco said it had received notice to terminate BP-operated rig DS-4 in the Gulf of Mexico. Rival Seadrill Partners announced this week that BP had also cancelled a contract for the West Sirius field in the same region.
Seadrill Reports Robust 4Q 2014 Results
Seadrill Limited reported its fourth quarter results for the three months ended December 31, 2014. · Seadrill Limited sells the ultra-deepwater drillship West Vela to Seadrill Partners for US$900 million on a 100% basis. Seadrill Limited sold a 51% stake in the unit. · Seadrill receives commitments for a US$750 million credit facility for SeaMex to refinance the West Oberon…
Seadrill Steers a Steady Course in Q1 2013
In its first quarter 2014 financial results Seadrill reported revenues were US$1,221 million compared to $1,469 million in the fourth quarter of 2014. The decrease is primarily due to the deconsolidation of the Seadrill Partners and downtime on the West Alpha, West Phoenix, West Pegasus, and West Polaris. Offsetting these items was the inclusion of the West Auriga, West Tellus, West Vela, West Castor, and West Telesto for a full quarter.
