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Seadrill Partners LLC (SDLP.N)

SDLP.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Seadrill Partners eyes agreement with banks during June
8:39am EDT 

May 24 (Reuters) - Seadrill Partners LLC :Says discussions with its lending banks are well advanced and they are targeting execution of an agreement during June 2017, prior to implementation of broader Seadrill Limited restructuring.Says plans to make a decision regarding the distribution to its members when the agreement is reached.Says plans to maintain its current distribution level once an agreement is reached with its lending banks.Seadrill Partners has deferred its first quarter 2017 distribution decision until an agreement is reached with its lending banks to insulate itself from potential events of default by Seadrill Limited should Seadrill Limited require the use of in court processes, such as schemes of arrangement or chapter 11 proceedings, to implement its restructuring.  Full Article

Seadrill Partners defers Q1 dividend decision
Friday, 28 Apr 2017 09:37am EDT 

OSLO, April 28 (Reuters) - Seadrill Partners LLC : :* Says it would defer its first quarter dividend decision until an agreement is reached with its lending banks to insulate itself from potential events of default by Seadrill Limited should Seadrill Limited require the use of in court processes, such as schemes of arrangement or chapter 11 proceedings, to implement its restructuring.* Says discussions with its lending banks are well advanced and we expect to reach an agreement by the end of May, prior to the implementation of the broader Seadrill Limited restructuring.* Says assuming it reaches an agreement with the banks, a determination will be made regarding the distribution.* Says based on its current cash position and free cash flow, it aims to maintain its current distribution level once an agreement is reached.  Full Article

Seadrill Partners reduces dividend payment
Tuesday, 26 Jul 2016 01:35am EDT 

: Seadrill partners llc says announced today that it will reduce quarterly distribution to its common unitholders to $0.10 per unit, down from current quarterly level of $0.25 per unit . Seadrill partners llc says decision reflects increase in extended standby rate period for west capricorn and termination of drilling contract for west capella .Despite some contract cancellations for which termination payments are being received, the Company still has an average contact term of 2.7 years, total contract backlog of $3.4 billion and 64% of its rigs on contract until 2018.  Full Article

Seadrill Partners Llc declares $0.25/unit cash distribution
Tuesday, 26 Jan 2016 01:30am EST 

Seadrill Partners Llc:Board of directors has declared a quarterly cash distribution with respect to quarter ended Dec 31, 2015 of $0.25 per unit.This cash distribution will be paid on or about Feb 12, 2016 to all unitholders of record as of the close of business on Feb 5​.  Full Article

Seadrill Partners Llc to reduce quarterly dividend
Friday, 18 Dec 2015 01:30am EST 

Seadrill Partners Llc:Approved a plan to reduce the quarterly distribution to $0.25 per unit to common unitholders, down from the current quarterly level of $0.5675.Revised distribution level will take effect in Feb 2016 upon payment of the fourth quarter 2015 distribution.The decision to reduce the distribution reflects the continuing challenges in the offshore drilling market.This move is expected increase liquidity by over $250 million per year.  Full Article

Seadrill Partners wins extensions for two tender rigs, cuts day rate-Reuters
Tuesday, 8 Dec 2015 08:20am EST 

Seadrill Partners Llc:Seadrill Partners announces contract extensions for the tender rigs t-15 & t-16 with Chevron Thailand Exploration and Production, Ltd.-Reuters.Contracts will now expire in July and Aug. 2019, respectively.Says as part of agreement to extend contracts, company has agreed to a dayrate reduction on current contracts.Seadrill Partners says total backlog of two contract extensions is about $80 million.Seadrill Partners says as a result, total backlog of current contracts is reduced by $35 million.The net effect of this agreement has resulted in an increase of $45 million in total backlog and an additional year of contract coverage for the two units.  Full Article

Seadrill Partners declares Q3 cash distribution of $0.5675 per unit
Tuesday, 27 Oct 2015 09:23am EDT 

Seadrill Partners LLC:Declared a quarterly cash distribution with respect to quarter ended Sept. 30, 2015 of $0.5675 per unit, in line with Q2 distribution.Cash distribution will be paid on or about Nov. 13 to all unitholders of record as of the close of business on Nov. 6.  Full Article

Seadrill Partners Q2 cash distribution $0.5675 per unit, unchanged on Q1
Tuesday, 28 Jul 2015 07:05am EDT 

Seadrill Partners LLC:Board of directors has declared a quarterly cash distribution with respect to quarter ended June 30 of $0.5675 per unit.This cash distribution will be paid on or about Aug. 14, 2015 to all unitholders of record as of the close of business on Aug. 7, 2015.  Full Article

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BRIEF-Seadrill Partners eyes agreement with banks during June

* Says discussions with its lending banks are well advanced and they are targeting execution of an agreement during June 2017, prior to implementation of broader Seadrill Limited restructuring