SDRL - Seadrill reports second quarter and six months 2012 results
(Thomson Reuters ONE) -
Highlights
* Seadrill generates second quarter 2012 EBITDA*()) of US$634 million.
* Seadrill reports second quarter 2012 net income of US$554 million and
earnings per share of US$1.12.
* Seadrill increases the ordinary quarterly cash dividend by US$0.02 to
US$0.84.
* Seadrill commences operations with the ultra-deepwater newbuilds West
Capricorn and West Leo in the Gulf of Mexico and Ghana respectively.
* North Atlantic Drilling Ltd (NADL) secures a two-year extension for the
semi-submersible rig West Alpha, with a total revenue potential of US$410
million.
Subsequent events
* Seadrill secures a commitment for 19 rig years for the ultra-deepwater
newbuilds West Auriga and West Vela, and an ultra-deepwater unit to be
announced, with a total revenue potential of US$4 billion.
* Seadrill secures a commitment for a five-year contract for the ultra-
deepwater drillship West Polaris with a total revenue potential of US$1.1
billion.
* Seadrill secures an aggregated seven-year commitment for the ultra-deepwater
drillships West Gemini and West Capella with a total revenue potential of
US$1.6 billion. The contracts are subject to formal approvals to be received
no later than end of October.
* Seadrill refinances a credit facility of US$585 million related to the
majority of our tender rig fleet increasing the nominal amount to US$900
million and also including one additional newbuild unit. The new facility
increases liquidity by US$588 million.
* Seadrill Partners LLC (the MLP) submits its first draft to the SEC for
review.
* Seadrill reduces its ownership in SapuraKencana to 6.4%, releasing proceeds
of approximately US$200 million.
*) EBITDA is defined as earnings before interest, depreciation and amortization
equal to operating profit plus depreciation and amortization.
Condensed consolidated income statements
Second quarter and six months 2012 results
Consolidated revenues for the second quarter of 2012 amounted to US$1,122
million compared to US$1,050 million in the first quarter 2012.
Operating profit for the quarter was US$483 million compared to US$456 million
in the preceding quarter.
Net financial items for the quarter showed a gain of US$114 million compared to
a gain of US$24 million in the previous quarter, as we in the second quarter
recorded an accounting gain of US$169 million largely related to the merger of
SapuraCrest Petroleum Bhd (SapuraCrest) and Kencana Petroleum Bhd (Kencana). In
addition we recorded a gain on sales of 300 million shares in SapuraKencana of
US$84 million.
Income taxes for the second quarter were US$43 million, up from US$41 million in
the previous quarter.
Net income for the quarter was US$554 million or basic earnings per share of
US$1.12.
Chief Executive Officer in Seadrill Management AS Alf C Thorkildsen says in a
comment, "We are pleased to deliver another strong quarter, reflecting our solid
operational performance. Since our last reporting we have secured new contracts
with an estimated revenue potential of US$7.6 billion, reflecting both our
clients satisfaction with our operations and the strong demand for high-
specification quality equipment. In reflection of our strong operational
performance, record high orderbacklog and the strong market outlook we are
pleased to announce a quarterly cash dividend of US$0.84."
Analyst contact
Rune Magnus Lundetræ
Chief Financial Officer
Seadrill Management AS
+47 51 30 99 19
Media contact
Alf Thorkildsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Fleet status report 2Q 2012:
http://hugin.info/135817/R/1636328/525792.pdf
Second quarter and six months 2012 report:
http://hugin.info/135817/R/1636328/525794.pdf
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#1636328]
Unternehmensinformation / Kurzprofil:
Datum: 27.08.2012 - 09:43 Uhr
Sprache: Deutsch
News-ID 177613
Anzahl Zeichen: 5010
contact information:
Town:
Hamilton
Kategorie:
Business News
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