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Dato/tid 01.05.2017 14:28
Utsteder Seadrill Limited
UtstederID SDRL
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Marked OB
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Tittel SDRL - Seadrill Agrees to Sell Three Jack-ups for $225 million
Tekst


Hamilton, Bermuda, May 1, 2017 - Seadrill Limited ("Seadrill" or "The Company"),
announces that it has reached an agreement with Shelf Drilling to sell the West
Triton, West Resolute and West Mischief for a total consideration of $225
million subject to customary closing conditions. The West Triton and West
Resolute are scheduled to be delivered to Shelf Drilling by the end of May 2017
and the West Mischief during 3Q 2017 after completion of its current drilling
contract with NDC in Abu Dhabi.

The total debt outstanding on these three units is $102 million providing excess
sale proceeds of $123 million.

The carrying value of the three units totals $415 million. A loss on disposal of
$190 million is expected to be realized for the first quarter of 2017.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company's plans, strategies, business prospects, changes and trends in its
business and the markets in which it operates. These statements are made based
upon management's current plans, expectations, assumptions and beliefs
concerning future events impacting the Company and therefore involve a number of
risks, uncertainties and assumptions that could cause actual results to differ
materially from those expressed or implied in the forward-looking statements,
which speak only as of the date of this news release. Consequently, no forward-
looking statement can be guaranteed. When considering these forward-looking
statements, you should keep in mind the risks described from time to time in the
Company's filings with the Securities and Exchange Commission, including its
Annual Report on Form 20-F (File No. 001-34667). The Company undertakes no
obligation to update any forward looking statements to reflect events or
circumstances after the date on which such statement is made or to reflect the
occurrence of unanticipated events. New factors emerge from time to time, and it
is not possible for the Company to predict all of these factors. Further, the
Company cannot assess the impact of each such factor on its business or the
extent to which any factor, or combination of factors, may cause actual results
to be materially different from those contained in any forward looking statement

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.



 
    

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