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Seadrill Limited Capital/Financing Update 2021
9186_rns_2021-03-04_4077bcdd-f987-405e-ab18-08f984e3668d.pdf
Capital/Financing Update
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Seadrill Limited
Drillships
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Semi-submersibles | ||||||||||
| West Alpha | 4th-HE | 1986 | 2,000 | 23,000 | Norway | - | - | - | - | |
| West Venture | 5th-HE | 2000 | 2,600 | 30,000 | Norway | - | - | - | - | |
| Norway | - | - | - | - | ||||||
| West Phoenix | 6th-HE | 2008 | 10,000 | 30,000 | Norway | Vår Energi | Jun-21 | Sep-23 | 359,000 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an |
| Options | Vår Energi | Oct-23 | Jan-24 | 359,000 | adjustment to the dayrate. Mobilization fee incremental to the dayrate. |
|||||
| Norway | Equinor | Dec-20 | Mar-21 | 292,500 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an | |||||
| 6th-HE | 2008 | 10,000 | 35,000 | Norway | Equinor | Mar-21 | May-21 | 275,000 | adjustment to the dayrate. | |
| West Hercules | UK | Equinor | May-21 | Jun-21 | 315,000 | |||||
| Norway | Equinor | Jun-21 | Oct-21 | 292,500 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an | |||||
| Options | Equinor | Nov-21 | Jun-22 | Market indexed rate | adjustment to the dayrate. | |||||
| West Eminence | 6th-HE | 2009 | 10,000 | 30,000 | Spain | - | - | - | - | |
| West Pegasus | 6th-HE | 2011 | 10,000 | 35,000 | Norway | - | - | - | - | |
| West Taurus | 6th-BE | 2008 | 10,000 | 35,000 | Norway | - | - | - | - | |
| Sevan Driller | 6th-BE | 2009 | 10,000 | 40,000 | Indonesia | - | - | - | - | |
| West Orion | 6th-BE | 2010 | 10,000 | 35,000 | Malaysia | - | - | - | - | |
| West Eclipse | 6th-BE | 2011 | 10,000 | 40,000 | Namibia | - | - | - | - | |
| Sevan Brasil | 6th-BE | 2012 | 10,000 | 40,000 | Aruba | - | - | - | - | |
| Sevan Louisiana | 6th-BE | 2013 | 10,000 | 40,000 | GoM | Walter Oil & Gas | Dec-20 | Mar-21 | 170,000 | |
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
| West Navigator | 5th-HE | 2000 | 7,500 | 35,000 | Norway | - | - | - | - | |
|---|---|---|---|---|---|---|---|---|---|---|
| West Gemini | 6th-BE | 2010 | 10,000 | 35,000 | Namibia | - | - | - | - | |
| West Tellus | 7th-BE | 2013 | 12,000 | 40,000 | Brazil | Petrobras | Nov-19 | Dec-21 | 211,311 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| 7th-BE | 2014 | 12,000 | 40,000 | GoM | Kosmos | Nov-20 | Mar-21 | 178,000 | ||
| West Neptune | LLOG | Mar-21 | Mar-21 | 202,000 | ||||||
| West Saturn | 7th-BE | 2014 | 12,000 | 40,000 | Brazil | ExxonMobil | Jan-21 | Nov-21 | 225,000 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. Dayrate includes MPD. A \$7.5m mobilization fee, which is incremental to the dayrate, was included in the award. |
| West Jupiter | 7th-BE | 2014 | 12,000 | 40,000 | Spain | - | - | - | - | |
| West Carina | 7th-BE | 2015 | 12,000 | 40,000 | Sri Lanka | - | - | - | - |
HE - Harsh environment BE - Benign environment
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Jack-ups | ||||||||||
| West Elara | Heavy-duty - HE | 2011 | 450 | 40,000 | Norway | ConocoPhillips | Apr-20 | Mar-28 | Market indexed rate | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| West Linus | Heavy-duty - HE | 2014 | 450 | 40,000 | Norway | ConocoPhillips | Jun-19 | Dec-28 | Market indexed rate | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. A mobilization fee of \$24 million will be taken to income over the initial 5 year contract period. |
| West Prospero | BE | 2007 | 400 | 30,000 | Malaysia | - | - | - | - | |
| West Vigilant | BE | 2008 | 350 | 30,000 | Malaysia | - | - | - | - | |
| West Ariel | BE | 2008 | 400 | 30,000 | UAE | - | - | - | - | |
| West Cressida | BE | 2009 | 375 | 30,000 | Malaysia | - | - | - | - | |
| West Freedom | BE | 2009 | 350 | 30,000 | Colombia | - | - | - | - | |
| West Callisto | BE | 2010 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Dec-19 | Nov-22 | 79,500 | Dayrate discount agreed for 2020 and 2021. |
| West Leda | BE | 2010 | 375 | 30,000 | Malaysia | - | - | - | - | |
| 400 | Qatar | Dec-19 | Aug-23 | Undisclosed | ||||||
| West Castor | BE | 2013 | 30,000 | Options | GulfDrill | Sep-23 | Jun-25 | Undisclosed | Bareboat charter received from GulfDrill. | |
| AOD l | BE | 2013 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Jul-19 | Jun-22 | 75,000 | Dayrate discount agreed for 2021. |
| AOD ll | BE | 2013 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Apr-20 | Apr-24 | 89,900 | Suspended from operations from Jun-20 for a period of up to 12 months. Dayrate discount agreed for 2020 and 2021. |
| AOD lll | BE | 2013 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Jan-20 | Dec-22 | 92,900 | Dayrate discount agreed for 2020 and 2021. |
| Qatar | Nov-20 | Feb-24 | Undisclosed | |||||||
| West Tucana | BE | 2013 | 400 | 35,000 | Options | GulfDrill | Feb-24 | Jun-25 | Undisclosed | Bareboat charter received from GulfDrill. |
| Qatar | Mar-20 | Dec-23 | Undisclosed | |||||||
| West Telesto | BE | 2013 | 400 | 30,000 | Options | GulfDrill | Dec-23 | Apr-25 | Undisclosed | Bareboat charter received from GulfDrill. |
HE - Harsh environment BE - Benign environment
Seadrill Partners LLC1
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Semi-submersibles | ||||||||||
| West Aquarius | 6th-HE | 2009 | 10,000 | 35,000 | Canada | - | - | - | - | |
| West Leo | 6th-HE | 2012 | 10,000 | 35,000 | Norway | - | - | - | - | |
| West Sirius | 6th-BE | 2008 | 10,000 | 35,000 | GoM | - | - | - | - | |
| West Capricorn | 6th-BE | 2011 | 10,000 | 35,000 | Aruba | - | - | - | - | |
| Drillships | ||||||||||
| West Polaris | 6th-BE | 2008 | 10,000 | 35,000 | Sri Lanka | - | - | - | - | |
| West Capella | 6th-BE | 2008 | 10,000 | 35,000 | Malaysia | Petronas | Mar-21 | May-21 | Undisclosed | |
| Option | Option | May-21 | Jun-21 | Undisclosed | ||||||
| West Auriga | 7th-BE | 2013 | 12,000 | 40,000 | GoM | - | - | - | - | |
| 12,000 | 40,000 | BP | Dec-20 | May-21 | Undisclosed | |||||
| West Vela | 7th-BE | 2013 | GoM | Option | May-21 | Jun-21 | Undisclosed |
SeaMex Limited1
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Jack-ups | ||||||||||
| West Defender | BE | 2007 | 350 | 30,000 | Mexico | PEMEX | Mar-20 | Jan-26 | Market indexed rate | |
| West Courageous | BE | 2007 | 350 | 30,000 | Mexico | PEMEX | Mar-20 | Nov-26 | Market indexed rate | |
| West Intrepid | BE | 2008 | 350 | 30,000 | Mexico | PEMEX | Mar-20 | May-26 | Market indexed rate | |
| West Oberon | BE | 2013 | 400 | 30,000 | Mexico | PEMEX | Mar-20 | Oct-25 | Market indexed rate | |
| West Titania | BE | 2014 | 400 | 30,000 | Mexico | PEMEX | Mar-20 | Oct-24 | Market indexed rate |
HE - Harsh environment BE - Benign environment
Northern Ocean Ltd1
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Semi-submersibles | ||||||||||
| West Mira | 7th-HE | 2019 | 10,000 | 35,000 | Norway | Wintershall | Nov-19 | Dec-21 | Undisclosed | |
| Options | Wintershall | Jan-22 | Dec-22 | Undisclosed | ||||||
| West Bollsta | 7th-HE | 2019 | 10,000 | 35,000 | Norway | Lundin | Oct-20 | May-22 | Undisclosed | |
| Options | Lundin | May-22 | Nov-22 | Undisclosed |
Sonadrill Holding Ltd1
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Drillships | ||||||||||
| Libongos | 7th-BE | 2019 | 12,000 | 40,000 | Angola | Undisclosed | Dec-20 | Sep-21 | Undisclosed | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| Quenguela | 7th-BE | 2019 | 12,000 | 40,000 | Namibia | - | - | - | - |
HE - Harsh environment BE - Benign environment
Footnote: 1) Non-consolidated units managed by Seadrill Limited.
The information contained in this Fleet Update report (the "Information") is as of the date of the report only and is subject to change without notice to the recipient. Seadrill Limited assumes no duty to update any portion of the Information.
DISCLAIMER. NEITHER SEADRILL LIMITED NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED "AS IS."
Neither Seadrill Limited nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of use, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting there from.
No Unauthorized Publication or Use. All information provided by Seadrill Limited in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Seadrill Limited.
Client Contract Duration, Timing and Dayrates and Risks Associated with Operations. The duration and timing (including both starting and ending dates) of the client contracts are estimates only, and client contracts are subject to cancellation, suspension and delays for a variety of reasons, including some beyond the control of Seadrill Limited. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Seadrill Limited. Our client contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in previous prospectus. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, shipyards or recharges.