Seadrill Limited reports third quarter results

Seadrill Limited has reported third quarter 2014 EBITDA of US$ 635 million, and a net income of US$ 190 million.

During the quarter, the company received a commitment for a US$ 1.35 billion credit facility to refinance the credit facilities secured by the West Pegasus, West Gemini, and West Orion.

Other highlights include:

• Seadrill sells an additional 28% limited partner interest in Seadrill Operating LP to Seadrill Partners for approximately US$ 373 million.
• Seadrill secures a contract with ExxonMobil for employment of the West Saturn. The contract is for a period of two years plus a one-year option, and has total revenue potential for the primary contract term of approximately US$ 497 million.
• Seadrill completes US$ 1.5 billion ECA facility to finance the West Saturn, West Neptune and West Jupiter.

Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/26112014/seadrill-limited-q3-results-1888/