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Seadrill Partners LLC (SDLP.N)

SDLP.N on New York Stock Exchange

3.89USD
22 Jan 2018
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$0.12 (+3.18%)
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Latest Key Developments (Source: Significant Developments)

Seadrill Partners LLC qtrly total operating revenues $267.9 million versus $418.5 million
Friday, 25 Aug 2017 08:02pm EDT 

Aug 25 (Reuters) - Seadrill Partners Llc ::Seadrill Partners LLC qtrly total operating revenues $267.9 million versus $418.5 million.Seadrill Partners LLC qtrly net income $16.6 million versus $112.2 mln‍​.Seadrill Partners LLC- Seadrill Partners' order backlog as of August 24, 2017 is $1.9 billion and average contract duration is 1.5 years.  Full Article

Seadrill moves to insulate Seadrill Partners in restructuring
Thursday, 17 Aug 2017 01:30am EDT 

Aug 17 (Reuters) - Seadrill Ltd :Amendments to certain credit facilities to insulate seadrill partners from seadrill limited's restructuring.has completed amendments to three secured credit facilities that relate to rigs purchased by Seadrill Partners from the Company that will insulate Seadrill Partners from events of default related to the Company's likely use of chapter 11 proceedings to implement its restructuring plan.The amendments to the three facilities remove Seadrill Partners and its consolidated entities as a borrower or guarantor and separate the facilities such that each resulting Seadrill Limited facility is secured only by Seadrill Limited's assets without recourse to Seadrill Partners or its assets.Transaction is part of company's comprehensive restructuring plan that is intended to preserve value of its equity stakes in seadrill partners and its consolidated entities.Discussions continue with certain third party and related party investors and its secured lenders on terms of a comprehensive recapitalization.As previously disclosed, we continue to believe that implementation of a comprehensive restructuring plan will likely involve chapter 11 proceedings, and we are preparing accordingly.Business operations remain unaffected by these restructuring efforts and company expects to continue to meet its ongoing customer and business counterparty obligations.  Full Article

Seadrill Partners eyes agreement with banks during June
Wednesday, 24 May 2017 08:39am 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

BRIEF-Seadrill Partners LLC qtrly total operating revenues $267.9 million versus $418.5 million

* Seadrill Partners LLC qtrly total operating revenues $267.9 million versus $418.5 million