AI assistant
Seadrill Limited Investor Presentation 2022
9186_rns_2022-02-22_b3e7de01-4842-4db8-916e-ed18db25f4e7.pdf
Investor Presentation
Open in viewerOpens in your device viewer
Seadrill Limited
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Semi-submersibles | ||||||||||
| West Phoenix | 6th-HE | 2008 | 10,000 | 30,000 | Norway Options |
Vår Energi Vår Energi |
Aug-21 Nov-23 |
Nov-23 Mar-24 |
359,000 359,000 |
Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. Mobilization fee incremental to the dayrate. |
| West Hercules | 6th-HE | 2008 | 10,000 | 35,000 | Canada | Equinor | May-22 | Oct-22 | Undisclosed | Total contract value for the firm term is \$95m inclusive of additional services, mobilization and demobilization fees. Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| Sevan Driller | 6th-BE | 2009 | 10,000 | 40,000 | Indonesia | - | - | - | - | |
| West Eclipse | 6th-BE | 2011 | 10,000 | 40,000 | Namibia | - | - | - | - | |
| Sevan Brasil | 6th-BE | 2012 | 10,000 | 40,000 | Aruba | - | - | - | - | |
| US GoM | ENI | Mar-22 | Jul-22 | Undisclosed | ||||||
| Sevan Louisiana | 6th-BE | 2013 | 10,000 | 40,000 | US GoM | Talos | Aug-22 | Nov-22 | Undisclosed | |
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
| Drillships West Gemini |
6th-BE | 2010 | 10,000 | 35,000 | Angola | Undisclosed | Nov-21 | May-22 | Undisclosed | In addition to the dayrate a mobilization fee was included in the award. Dayrate partly received in foreign |
| Options | Jun-22 | Nov-22 | Undisclosed | currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. | ||||||
| Shell | Oct-21 | Jul-22 | Undisclosed | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
||||||
| West Tellus | 7th-BE | 2013 | 12,000 | 40,000 | Brazil | Petrobras | Sep-22 | Aug-25 | 230,000 | In addition to the dayrate a mobilization fee of \$13.8m was included in the award. Dayrate includes additional services and is partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| US GoM | Sep-21 | Oct-22 | Undisclosed | |||||||
| West Neptune | 7th-BE | 2014 | 12,000 | 40,000 | Options | LLOG | Oct-22 | Dec-22 | Undisclosed | |
| Brazil | ExxonMobil | Jan-21 | Apr-22 | 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 Saturn | 7th-BE | 2014 | 12,000 | 40,000 | Brazil | Equinor | Jul-22 | Jul-26 | Undisclosed | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| Options | Jul-26 | Jul-30 | Undisclosed | Four options of up to one year each. | ||||||
| Spain | - | - | - | - | ||||||
| West Jupiter | 7th-BE | 2014 | 12,000 | 40,000 | Brazil | Petrobras | Dec-22 | Oct-25 | 244,750 | In addition to the dayrate a mobilization fee of \$9.6m was included in the award. Dayrate includes additional services and is partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| Spain | - | - | - | - | ||||||
| West Carina | 7th-BE | 2015 | 12,000 | 40,000 | Brazil | Petrobras | Sep-22 | Aug-25 | 245,000 | In addition to the dayrate a mobilization fee of \$14.7m was included in the award. Dayrate includes additional services and is partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
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 | Aug-22 | Market indexed rate | The rig is now expected to be delivered to SFL in 2022. Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| West Prospero | BE | 2007 | 400 | 30,000 | Malaysia | - | - | - | - | |
| West Ariel | BE | 2008 | 400 | 30,000 | UAE | - | - | - | - | |
| West Cressida | BE | 2009 | 375 | 30,000 | Malaysia | - | - | - | - | |
| West Leda | BE | 2010 | 375 | 30,000 | Malaysia | - | - | - | - | |
| West Callisto | BE | 2010 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Dec-19 | Nov-22 | 79,500 | |
| West Castor | BE | 2013 | 400 | 30,000 | Qatar | GulfDrill | Dec-19 | Aug-23 | Undisclosed | Bareboat charter received from GulfDrill. |
| AOD l | BE | 2013 | 400 | 30,000 | Options Saudi Arabia |
Saudi Aramco | Sep-23 Jul-19 |
Jun-25 Jun-22 |
Undisclosed 75,000 |
|
| AOD ll | BE | 2013 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Apr-20 | Apr-24 | 89,900 | |
| AOD lll | BE | 2013 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Jan-20 | Dec-22 | 92,900 | |
| West Tucana | BE | 2013 | 400 | 35,000 | Qatar | GulfDrill | Nov-20 | May-24 | Undisclosed | Bareboat charter received from GulfDrill. |
| Options | May-24 | Sep-25 | Undisclosed | |||||||
| West Telesto | BE | 2013 | 400 | 30,000 | Qatar GulfDrill |
Mar-20 | May-25 | Undisclosed | Bareboat charter received from GulfDrill. | |
| Options | May-25 | Sep-26 | Undisclosed |
HE - Harsh environment BE - Benign environment
Aquadrill Offshore LLC1
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Drillships | ||||||||||
| Capella | 6th-BE | 2008 | 10,000 | 35,000 | Malaysia | PTTEP | Jul-21 | Mar-22 | Undisclosed | Upon contract completion rig management will transition. |
| Vela | 7th-BE | 2013 | 12,000 | 40,000 | GoM | Equinor | Nov-21 | May-22 | Undisclosed | Upon contract completion rig management will transition. |
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 |
Northern Ocean Ltd1
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Semi-submersibles | ||||||||||
| West Bollsta | 7th-HE | 2019 | 10,000 | 35,000 | Norway | Lundin | Oct-20 | Feb-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 | Nov-22 | Undisclosed | Dayrate partly received in foreign currency. Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
| 12,000 | 40,000 | Angola | Mar-22 | Oct-23 | Undisclosed | In addition to the dayrate a lump sum fee was included in the award. Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
||||
| Quenguela | 7th-BE | 2019 | Option | Total | Oct-23 | Nov-24 | Undisclosed | |||
| Option | Nov-24 | Dec-25 | Undisclosed |
HE - Harsh environment BE - Benign environment
Footnote: 1) Non-consolidated units managed by Seadrill Limited. Changes from the last report in bold.
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.