West Aquila (Northern Drilling) (Drillship)

SDRL - Announces Agreement with DSME Shipyard

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15 January 2016

Seadrill Limited ("SDRL" or "the Company") announces today that an agreement with DSME shipyard has been reached to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until the second quarter of 2018 and first quarter of 2019 respectively. Under the terms of the original construction contracts, the units were to be delivered by the end of the second quarter of 2016 and the total final yard instalment for both units of over $800 million was due at that time. This agreement significantly improves the Company's near term liquidity position by deferring these capex commitments to 2018 and 2019 with no further payments to the yard until that time.

Source: http://www.seadrill.com/investor-relations/news/pr-story.aspx?ResultPageURL=http://cws.huginonline.com/S/135817/PR/201601/1979043.xml


More News for Operator: Northern Drilling

15 Jan 2016

SDRL - Announces Agreement with DSME Shipyard

Seadrill Limited ("SDRL" or "the Company") announces today that an agreement with DSME shipyard has been reached to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until the second quarter of 2018 and first quarter of 2019 respectively. Under the terms of the original construction contracts, the units were to be delivered by the end of the second quarter of 2016 and the total final yard instalment for both units of over $800 million was due at that time. This agreement significantly improves the Company's near term liquidity position by deferring these capex commitments to 2018 and 2019 with no further payments to the yard until that time.

15 Jul 2013

Seadrill orders four new drillship units as the company continues to refresh drilling fleet

Seadrill has announced that the company has placed an order for four new ultra-deepwater drillships to be built in South Korea and delivered to the offshore drilling operator in 2015 and 2016. The units are each expected to cost just below US$600 million, with the first delivery scheduled to take place in the second half of 2015. Two of the drillships will be built at Daewoo’s yard in South Korea, whilst the other two units will be constructed at Samsung’s yard in the country. Both units are being built to target future development drilling opportunities in the ‘Golden Triangle’ area and will be capable of operating in 12,000ft of water, as well as having the option of being outfitted with 20K BOP systems. The order of the four units brings Seadrill’s newbuild campaign up to 24 units currently under construction as the operator continues to build modern units to meet future demand.

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