SDRL - Seadrill Limited closes the tender rig T15 transaction

Fri May 17, 2013 6:52am EDT

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SDRL - Seadrill Limited closes the tender rig T15 transaction

Hamilton, Bermuda, May 17, 2013 - We refer to the press release dated May 7, 2013, which announced the transaction to sell the T-15 Tender rig.

Seadrill Limited ("Seadrill" or "The Company") has today completed the previously announced transaction to sell the T-15 tender rig to Seadrill Partners.

The agreed upon sale is for a total price of US$210 million, less approximately US$100 million of debt outstanding under the credit facility secured by the T-15. The balance of the total consideration is being financed with vendor financing provided by Seadrill in the form of a loan in the amount of approximately US$110 million.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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(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