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Seadrill Partners LLC (SDLP.N)

SDLP.N on New York Stock Exchange

4.17USD
29 Jul 2016
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Latest Key Developments (Source: Significant Developments)

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

Seadrill Partners confirms Q1 distribution of $0.5675 per unit
Thursday, 28 May 2015 06:35am EDT 

Seadrill Partners LLC:Confirms $0.5675 per unit distribution for the first quarter, in line with the fourth quarter distribution.  Full Article

Seadrill Partners Q1 cash distribution $0.5675, unchanged on Q4-Reuters
Monday, 27 Apr 2015 09:10am EDT 

Seadrill Partners LLC:Seadrill partners board of directors has declared a quarterly cash distribution with respect to quarter ended March 31, 2015 of $0.5675 per unit, in line with the Q4 distribution-Reuters.This cash distribution will be paid on or about May 14, 2015 to all unitholders of record as of the close of business on May 7, 2015.  Full Article

Seadrill Partners says BP extends one rig, terminates another
Monday, 30 Mar 2015 06:48am EDT 

Seadrill Partners LLC:Seadrill partners llc receives notice of termination for the West Sirius contract and extends the West Capricorn contract.As a result of the termination, Seadrill Partners' backlog will decrease by approximately $160 million.Termination from BP Exploration & Production for the West Sirius which will be effective after having completed the current well and demobilization, which Seadrill Partners estimates to be by early May 2015.Prior to the cancellation notice, the dayrate and term for the West Sirius and West Capricorn contracts were swapped. The West Sirius dayrate was decreased by $40,000 per day and the term was decreased by two years to expire in July 2017.while the dayrate for the West Capricorn was increased by $40,000 per day and the term was extended by two years to expire in July 2019.Amortized payments for the West Capricorn such as mobilization and upgrades will continue on the original schedule ending in July 2017.In accordance with the cancellation provisions in the West Sirius contract, Seadrill Partners will receive payments over the remaining contract term, now expiring in July 2017.After taking into consideration the expected decrease in operational expense while the unit is cold stacked, and the fact that termination fee payments will not be impacted by downtime.Seadrill Partners does not expect a material impact on its cash flow position over the contract period through July 2017.  Full Article

Seadrill Partners LLC declares quarterly cash distribution
Tuesday, 27 Jan 2015 07:03am EST 

Seadrill Partners LLC:Declares a quarterly cash distribution with respect to the quarter ended December 31, 2014 of $0.5675 per unit.Represents an increase of $0.015 per unit, or about 3 pct from Q3 2014.Cash distribution will be paid on or about Feb. 13, to all unitholders of record as of the close of business on Feb. 6.  Full Article

BRIEF-Seadrill Partners: West Capricorn rig to remain on standby rate

* Has reached an agreement with current operator for West Capricorn to remain on an extended standby rate of $316,000 per day with expected recommencement of work in late 2017 at full operating rate of $526,000 per day