SDRL - Seadrill disposes of the jack-up rig West Juno
(Thomson Reuters ONE) -
Hamilton, Bermuda, April 13, 2011 - Seadrill has entered into an agreement to
sell the newly built jack-up drilling rig West Juno to an undisclosed buyer
incorporated in UK for a total consideration of US$248.5 million.
Seadrill expects to record a gain on sale of approximately US$18 million on
closing. Closing of the agreement and the transfer of ownership of the unit is
scheduled upon completion of the rig's present drilling assignment late second
quarter or early third quarter 2011. Seadrill expects to have an EBITDA
contribution from the rig in the period up to closing of approximately US$6
million.
Alf C Thorkildsen, CEO of Seadrill Management AS, says, "We are continuously
evaluating sale and purchase opportunities in order to maximize the long term
return for our shareholders. This dynamic approach can from time to time lead to
divestments and reallocation of capital. We have through the sale of West Juno
at an attractive price been able to monetize the underlying strength of the jack
up market. Although we remain optimistic on the market outlook for premium jack-
up rigs, we have decided to relocate the proceeds to fund investment in other
new unit as we since October 2010 have committed to investing US$4.7 billion in
newbuildings."
Seadrill's fleet of jack-up rigs remains the world largest modern jack-up fleet
with a total of 19 units built after 2006. Furthermore Seadrill has options for
construction of further six units at attractive prices compared to going market
prices.
Analyst contact:
Jim Dåtland
VP Investor Relations
Seadrill Management AS
+47 51 30 99 19
Media contact:
Esa Ikäheimonen
Chief Financial 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.
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#1505953]
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2011 - 13:21 Uhr
Sprache: Deutsch
News-ID 53476
Anzahl Zeichen: 2668
contact information:
Town:
Hamilton
Kategorie:
Business News
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