AI assistant
Seadrill Limited Management Reports 2019
9186_rns_2019-05-23_76e1d723-347d-4558-8559-ec6abbd43dda.pdf
Management Reports
Open in viewerOpens in your device viewer
Seadrill Limited
| Rig type/Name | Generation/ type 1 |
Built | Water depth (feet) |
Drilling depth (feet) |
Location | Current contract | |||
|---|---|---|---|---|---|---|---|---|---|
| Client | Start | Expire | Dayrate US\$ | ||||||
| Semi-submersibles | |||||||||
| West Alpha | 4th-HE | 1986 | 2,000 | 23,000 | Norway | - | - | - | - |
| West Venture | 5th-HE | 2000 | 2,600 | 30,000 | Norway | - | - | - | - |
| West Phoenix | 6th-HE | 2008 | 10,000 | 30,000 | Norway/UK | Equinor 2 | May/19 | Nov/19 | Undisclosed |
| Norway | Neptune2 | Dec/19 | Sep/20 | Undisclosed | |||||
| Options | Neptune2 | Sep/20 | Mar/21 | Undisclosed | |||||
| West Hercules | 6th-HE | 2008 | 10,000 | 35,000 | Norway | Equinor 2 | May/19 | Mar/20 | Undisclosed |
| Options | Equinor 2 | Apr/20 | Jun/20 | Market indexed rate3 | |||||
| West Taurus | 6th-BE | 2008 | 10,000 | 35,000 | Spain | - | - | - | - |
| West Eminence | 6th-HE | 2009 | 10,000 | 30,000 | Spain | - | - | - | - |
| Sevan Driller | 6th-BE | 2009 | 10,000 | 40,000 | Singapore | - | - | - | - |
| West Orion | 6th-BE | 2010 | 10,000 | 35,000 | Malaysia | - | - | - | - |
| West Pegasus | 6th-HE | 2011 | 10,000 | 35,000 | Norway | - | - | - | - |
| 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 O&G | Nov/18 | Dec/19 | Undisclosed |
| Drillships | |||||||||
| West Navigator | Ultra-deepwater | 2000 | 7,500 | 35,000 | Norway | - | - | - | - |
| West Gemini | Ultra-deepwater | 2010 | 10,000 | 35,000 | Angola | ENI4 | Jan/18 | Jun/19 | Undisclosed |
| West Tellus | Ultra-deepwater | 2013 | 12,000 | 40,000 | Brazil | Petrobras5 | Apr/15 | Oct/19 | 317,000 |
| West Neptune | Ultra-deepwater | 2014 | 12,000 | 40,000 | GoM | LLOG | Dec/17 | Dec/19 | 155,000 |
| West Saturn | Ultra-deepwater | 2014 | 12,000 | 40,000 | Brazil | Equinor5,6 | Feb/18 | Aug/19 | 207,600 |
| Options | Equinor5,6,7 | Sep/19 | Jun/20 | 207,600 | |||||
| Options | Equinor5,6,8 | Jul/20 | Feb/21 | Market indexed rate3 | |||||
| West Jupiter | Ultra-deepwater | 2014 | 12,000 | 40,000 | Nigeria | Total | Dec/14 | Dec/19 | Undisclosed |
| West Carina | Ultra-deepwater | 2015 | 12,000 | 40,000 | Malaysia | Petronas | Jan/19 | Jun/19 | Undisclosed |
| Brunei | Petronas | Jul/19 | Aug/19 | Undisclosed |
Seadrill Limited
| Rig type/Name | Generation/ | Built | Water depth | Drilling depth | Location | ||||
|---|---|---|---|---|---|---|---|---|---|
| type 1 | (feet) | (feet) | Current contract | ||||||
| Client | Start | Expire | Dayrate US\$ | ||||||
| Jack-ups | |||||||||
| West Epsilon | Heavy-duty - HE | 1993 | 400 | 30,000 | Norway | - | - | - | - |
| West Elara | Heavy-duty - HE | 2011 | 450 | 40,000 | Norway | ConocoPhillips 2 | Oct/18 | Mar/20 | 195,000 |
| Norway | ConocoPhillips 2 | Apr/20 | Sep/27 | Market indexed rate3 | |||||
| West Linus | Heavy-duty - HE | 2014 | 450 | 40,000 | Norway | ConocoPhillips 2,9,10 | Apr/18 | May/19 | 205,000 |
| Norway | ConocoPhillips 2 | Jun/19 | Dec/28 | Market indexed rate3 | |||||
| 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 | Thailand | Ophir | Jul/19 | Jan/20 | Undisclosed |
| Options | Ophir | Feb/20 | Mar/20 | Undisclosed | |||||
| West Freedom | BE | 2009 | 350 | 30,000 | Colombia | - | - | - | - |
| West Callisto | BE | 2010 | 400 | 30,000 | Saudi Arabia | Saudi Aramco | Jan/19 | Jun/19 | Undisclosed |
| West Leda | BE | 2010 | 375 | 30,000 | Malaysia | - | - | - | - |
| West Castor | BE | 2013 | 400 | 30,000 | Suriname | Staatsolie13 | Mar/19 | Jan/20 | 82,000 |
| AOD l | BE | 2013 | 400 | 20,000 | Saudi Arabia | Saudi Aramco | Jul/16 | Jun/19 | 102,900 |
| Saudi Aramco | Jul/19 | Jun/22 | Undisclosed | ||||||
| AOD ll | BE | 2013 | 400 | 20,000 | Saudi Arabia | Saudi Aramco | Jul/16 | Jul/19 | 102,900 |
| AOD lll | BE | 2013 | 400 | 20,000 | Saudi Arabia | Saudi Aramco | Jan/17 | Dec/19 | 102,900 |
| West Tucana | BE | 2013 | 400 | 30,000 | Qatar | Gulf Drilling International | Oct/18 | Dec/19 | Undisclosed |
| Options | Gulf Drilling International | Jan/20 | Apr/21 | Undisclosed | |||||
| West Telesto | BE | 2013 | 400 | 30,000 | Malaysia | Undisclosed | Jun/19 | Dec/19 | Undisclosed |
| Options | Undisclosed | Jan/20 | Mar/20 | Undisclosed | |||||
Seadrill Partners LLC16
| Rig type/Name | Generation/ | Built | Water depth | Drilling depth | Location | ||||
|---|---|---|---|---|---|---|---|---|---|
| type 1 | (feet) | (feet) | Current contract | ||||||
| Client | Start | Expire | Dayrate US\$ | ||||||
| Semi-submersibles | |||||||||
| West Sirius | 6th-BE | 2008 | 10,000 | 35,000 | GoM | - | - | - | - |
| West Aquarius | 6th-HE | 2009 | 10,000 | 35,000 | Canada | Exxon | May/19 | Dec/19 | 270,000 |
| Options | Exxon | Jan/20 | Mar/20 | 270,000 | |||||
| Options | Exxon | Apr/20 | Dec/20 | Market indexed rate3 | |||||
| West Capricorn | 6th-BE | 2011 | 10,000 | 35,000 | GoM | BP | - | - | See note 15 |
| GoM | LLOG | May/19 | Jul/19 | Undisclosed | |||||
| Options | LLOG | Jul/19 | Sep/19 | Undisclosed | |||||
| West Leo | 6th-HE | 2012 | 10,000 | 35,000 | Spain | - | - | - | - |
| Drillships | |||||||||
| West Polaris | Ultra-deepwater | 2008 | 10,000 | 35,000 | Spain | - | - | - | - |
| West Capella | Ultra-deepwater | 2008 | 10,000 | 35,000 | Malaysia | Shell | Nov/18 | Jun/19 | Undisclosed |
| Malaysia | Petronas | Sep/19 | Apr/20 | Undisclosed | |||||
| West Auriga | Ultra-deepwater | 2013 | 12,000 | 40,000 | GoM | BP 11 | Oct/13 | Oct/20 | 575,000 |
| West Vela | Ultra-deepwater | 2013 | 12,000 | 40,000 | GoM | BP 12 | Nov/13 | Nov/20 | 575,000 |
| Tender rigs | |||||||||
| T15 | Barge | 2013 | 6,500 | 30,000 | Thailand | Chevron | Jul/13 | Sep/19 | 110,000 |
| T16 | Barge | 2013 | 6,500 | 30,000 | Thailand | - | - | - | - |
| West Vencedor | Semi-tender | 2010 | 6,500 | 30,000 | Myanmar | Petronas | Jan/19 | Jun/19 | Undisclosed |
| Ivory Coast | Undisclosed14 | Sep/19 | Feb/20 | 110,000 | |||||
| Option | Undisclosed | Feb/20 | May/20 | 110,000 | |||||
SeaMex Limited16
| Rig type/Name | Generation/ | Built | Water depth | Drilling depth | Location | ||||
|---|---|---|---|---|---|---|---|---|---|
| type 1 | (feet) | (feet) | Current contract | ||||||
| Client | Start | Expire | Dayrate US\$ | ||||||
| Jack-ups | |||||||||
| West Defender | BE | 2007 | 350 | 30,000 | Mexico | PEMEX | Aug/14 | Aug/19 | 116,000 |
| Mexico | PEMEX | Sep/19 | Jan/23 | 155,500 | |||||
| West Courageous | BE | 2007 | 350 | 30,000 | Mexico | PEMEX | Sep/14 | Aug/19 | 116,000 |
| Mexico | PEMEX | Sep/19 | Nov/23 | 155,500 | |||||
| West Intrepid | BE | 2008 | 350 | 30,000 | Mexico | PEMEX | May/14 | Aug/19 | 116,000 |
| Mexico | PEMEX | Sep/19 | May/23 | 155,500 | |||||
| West Oberon | BE | 2013 | 400 | 30,000 | Mexico | PEMEX | May/14 | Aug/19 | 130,000 |
| Mexico | PEMEX | Sep/19 | Oct/22 | 171,500 | |||||
| West Titania | BE | 2014 | 400 | 30,000 | Mexico | PEMEX | Jan/15 | Aug/19 | 130,000 |
| Mexico | PEMEX | Sep/19 | Oct/21 | 171,500 | |||||
Northern Drilling Limited16
| Rig type/Name | Generation/ type 1 |
Built | Water depth (feet) |
Drilling depth (feet) |
Location | Current contract | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Client | Start | Expire | Dayrate US\$ | |||||||
| Semi-submersibles | ||||||||||
| West Mira | 7th-HE | 2019 | 10,000 | 35,000 | Norway | - | - | - | - | |
| Norway | Wintershall2 | Aug/19 | Feb/21 | Undisclosed | ||||||
| Options | Wintershall2 | Mar/21 | Feb/22 | Undisclosed | ||||||
| West Bollsta | 7th-HE | 2019 | 10,000 | 35,000 | Korea, Shipyard | - | - | - | - | |
| Norway | Lundin2 | Apr/20 | Jan/22 | Undisclosed | ||||||
| Options | Lundin2 | Jan/22 | Sep/22 | Undisclosed | ||||||
| Drillships | ||||||||||
| West Libra | Ultra-deepwater | 2021 | 12,000 | 40,000 | Under construction at DSME | - | - | - | - | |
| West Aquila | Ultra-deepwater | 2021 | 12,000 | 40,000 | Under construction at DSME | - | - | - | - | |
Footnotes:
1) HE - Harsh environment BE - Benign environment
2) Dayrates partly received in Norwegian Kroner or Pound Sterling depending whether the rig is operating in Norway or UK respectively. Fluctuations in exchange rates may result in an adjustment to the dayrate.
3) Dayrate is adjusted for market indexed rate.
4) An element of the daily rate will be payable to our JV partner.
5) Dayrates partly received in Brazilian Real. Fluctuations in exchange rates may result in an adjustment to the dayrate.
6) Includes MPD rental fee and provision of other services. An additional dayrate premium is payable for periods when the unit's MPD system is utilized.
- 7) Option dayrate of \$207,600 applies for the first 3 options, thereafter the dayrate will increase by \$5,000 per option for the remaining 4 options.
- 8) Market indexed rate shall apply to any well spud after 31 July 2020.
- 9) For West Linus a mobilization fee of US\$24 million will be taken to income over the initial 5 year contract period.
10) For West Linus we will receive an additional compensation of US\$12,430 per day over the initial 5 year contract period.
11) For West Auriga a mobilization fee of US\$37.5 million will be received over the contract period.
12) For West Vela a mobilization fee of US\$37.5 million will be received over the contract period.
13) For West Castor a lump sum mobilization fee of US\$2 million will be received.
14) For West Vencedor a lump sum mobilization fee of US\$3.5 million will be received.
15) In accordance with the cancellation for convenience provisions in the contract a notice of early termination was received from BP. Under the contract an early termination fee is receivable through to original contract expiration, July 2019. 16) 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.