SDRL- MLP and Seabras update
(Thomson Reuters ONE) -
Hamilton, Bermuda, April 16, 2011 - Seadrill Limited (the "Company") announced
in the fourth quarter 2011 report and presentation that it considers a separate
listing of its Brazilian deepwater operations ("Seabras") and the opportunity
for establishing a master limited partnership structure (MLP).
The Board of Seadrill sees the establishment of a MLP as an important step
forward in order to lower future financing costs and to increase dividend
capacity. Seabras has completed the necessary corporate restructuring and
received the required consents from Petrobras. Given the large potential upside
of the MLP structure, the Board has decided to accelerate this project ahead of
the Seabras listing. It is however the Board's clear intention to complete both
projects as well as the listing of NADL before the year end.
The Board is currently evaluating several opportunities to increase Seabras
activities prior to the listing. A separate organization to support such wider
operations in Brazil is being established. This further highlights the benefit
of somewhat postponing the planned listing of Seabras.
It should be anticipated that the new MLP structure will involve part ownership
of 4 - 6 rigs fixed on long term contracts. Seadrill will initially seek to
build the MLP with a combination of deepwater, tender and possible jack-up
assets in order to reduce the risk for investors and to increase Seadrill's
flexibility.
Contacts
Alf C Thorkildsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19
Esa Ikäheimonen
Chief Financial Officer
Seadrill Management AS
+47 51 30 99 19
This disclosure is for informational purposes and not an offer to buy or the
solicitation of an offer to sell any securities. In addition, the common shares
subject of the potential future offering by Seabras have not been, and will not
be, registered under the United States Securities Act and may not be offered or
sold in the United States absent registration or an applicable exemption from
registration requirements of the United States Securities Act and applicable
state securities laws.
This disclosure contains forward-looking statements. Forward-looking statements
are only predictions and are not guarantees of future performance. Investors
are cautioned that any such forward-looking statements are and will be, as the
case may be, subject to many risks, uncertainties and factors that may cause the
actual results to be materially different from any future results expressed or
implied in such forward-looking statements. The Company expressly disclaims a
duty to update any of the forward-looking statements.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Seadrill Limited via Thomson Reuters ONE
[HUG#1602632]
Unternehmensinformation / Kurzprofil:
Datum: 16.04.2012 - 11:25 Uhr
Sprache: Deutsch
News-ID 135045
Anzahl Zeichen: 3656
contact information:
Town:
Hamilton
Kategorie:
Business News
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"SDRL- MLP and Seabras update"
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