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2014 May 28   17:23

Seadrill announces Q1 2014 results

From the effect of January 2, 2014, the financial results of Seadrill Partners LLC has been deconsolidated from the financial results of Seadrill, the company said in its press release.
 Seadrill reports pro forma consolidated EBITDA of US$788 million
 Seadrill reports first quarter 2014 net income of US$3,094 million and earnings per share of $6.54
 Seadrill increases the ordinary quarterly cash dividend by 2 cents to US$1.00 per share
 Orderbacklog of US$18.8 billion on a consolidated basis
 North Atlantic Drilling completes private placement of US$600 million unsecured bond issue maturing 2019
 North Atlantic Drilling completes its initial public offering of 13,513,514 common shares and began trading on January 29, 2014 on the New York Stock Exchange under the symbol "NADL".
 Seadrill Partners completes US$1.8 billion Term Loan B and US$100 million senior secured revolving loan
 Seadrill completes placement of SEK 1.5 billion unsecured bond issue
 Seadrill executes contracts for four Jack-up units with Pemex in Mexico and establishes SeaMex, a 50/50 Joint Venture with Fintech Advisory Inc.
 Seadrill sells part of the ultra-deepwater drillship West Auriga to Seadrill Partners for US$1.24 billion, financed with a US$416 million equity offering and related party loans
Seadrill secures contracts for the jack-up units West Tucana, West Telesto, West Ariel, and West Prospero and extends contract for the West Mischief. The total revenue potential for the new contracts is approximately US$433 million.
 Seadrill sells 230 million shares of SapuraKencana raising approximately US$300 million in proceeds. Seadrill continues to own approximately 490 million shares, representing an approximate 8% ownership stake in SapuraKencana.
 North Atlantic Drilling announces extensive Investment and Co-operation Agreement with Rosneft to partner in the Russian market.

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