Seadrill Limited - M&A Activity 2017

SDRL - Seadrill Agrees to Sell Three Jack-ups for $225 million

Hamilton, Bermuda, May 1, 2017 - Seadrill Limited ("Seadrill" or "The Company"),

announces that it has reached an agreement with Shelf Drilling to sell the West

Triton, West Resolute and West Mischief for a total consideration of $225

million subject to customary closing conditions. The West Triton and West

Resolute are scheduled to be delivered to Shelf Drilling by the end of May 2017

and the West Mischief during 3Q 2017 after completion of its current drilling

contract with NDC in Abu Dhabi.

The total debt outstanding on these three units is $102 million providing excess

sale proceeds of $123 million.

The carrying value of the three units totals $415 million. A loss on disposal of

$190 million is expected to be realized for the first quarter of 2017.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are

generally not historical in nature, and specifically include statements about

the Company's plans, strategies, business prospects, changes and trends in its

business and the markets in which it operates. These statements are made based

upon management's current plans, expectations, assumptions and beliefs

concerning future events impacting the Company and therefore involve a number of

risks, uncertainties and assumptions that could cause actual results to differ

materially from those expressed or implied in the forward-looking statements,

which speak only as of the date of this news release. Consequently, no forward-

looking statement can be guaranteed. When considering these forward-looking

statements, you should keep in mind the risks described from time to time in the

Company's filings with the Securities and Exchange Commission, including its

Annual Report on Form 20-F (File No. 001-34667). The Company undertakes no

obligation to update any forward looking statements to reflect events or

circumstances after the date on which such statement is made or to reflect the

occurrence of unanticipated events. New factors emerge from time to time, and it

is not possible for the Company to predict all of these factors. Further, the

Company cannot assess the impact of each such factor on its business or the

extent to which any factor, or combination of factors, may cause actual results

to be materially different from those contained in any forward looking statement

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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