Seadrill Ltd (SDRL.N)
Wed, Sep 14 2016
Sept 14 The CEO of rig firm Seadrill, Per Wullf, told a conference in Oslo on Wednesday:
* Expects longer-lasting rig contracts in future, but with floating rates, rather than fixed rates
* Says North Atlantic Drilling ltd. announces amendment to agreement with Jurong Shipyard regarding the standstill agreement for delivery of the semi-submersible drilling unit West Rigel
* Seadrill receives notice of contract cancellation for the west Hercules, which was originally contracted for drilling in Norway with North Atlantic Drilling Ltd
* North Atlantic Drilling Limited, a majority owned subsidiary of Seadrill Limited, announces today that it has reached agreement with its banking group to extend its US$2.0 billion credit facility to June 2017 and to amend certain financial covenants.
* Seadrill Ltd says it has reached agreement with its banking group to extend its three nearest maturing borrowing facilities of $2.85 bln and amend certain covenants across its secured credit facilities, as first phase of a broader plan to refinance and recapitalize business.
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