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Seadrill Limited Management Reports 2020
9186_rns_2020-06-02_e248b80a-838d-42c8-b829-146f4b5097a5.pdf
Management Reports
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Seadrill Limited
| 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 | Neptune | Apr-20 | Jul-20 | 267,000 | A notice of intent to terminate for convenience has been received from the customer. Neptune has indicated that operations are expected to conclude in July-20. Seadrill is entitled to an early termination fee under the contract. |
|||||
| West Phoenix | 6th-HE | 2008 | 10,000 | 30,000 | Norway | Vår Energi | Jul-21 | Oct-23 | 359,000 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in |
| Options | Vår Energi | Oct-23 | Feb-24 | 359,000 | an adjustment to the dayrate. Mobilization fee incremental to dayrate. |
|||||
| Norway | Equinor | May-20 | Nov-20 | 342,500 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in an adjustment to the dayrate. |
|||||
| West Hercules | 6th-HE | 2008 | 10,000 | 35,000 | UK | Equinor | Nov-20 | Dec-20 | 315,000 | |
| Norway | Equinor | Dec-20 | Mar-21 | 275,000 | Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in | |||||
| Options | Equinor | Mar-21 | Jun-22 | Market indexed rate | an 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 O&G | Mar-20 | Jun-20 | 145,500 | Performance bonus incremental to dayrate. |
Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in
Dayrate includes MPD and provision of other services.
HE - Harsh environment BE - Benign environment
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Drillships | ||||||||||
| West Navigator | 5th-HE | 2000 | 7,500 | 35,000 | Norway | - | - | - | - | |
| Namibia | Undisclosed | May-20 | Dec-20 | Undisclosed | ||||||
| West Gemini | 6th-BE | 2010 | 10,000 | 35,000 | Angola | Undisclosed | Jan-21 | Oct-21 | Undisclosed | from operations until Jan-21. |
| Options | Undisclosed | Oct-21 | Jul-22 | Undisclosed | ||||||
| West Tellus | 7th-BE | 2013 | 12,000 | 40,000 | Brazil | Petrobras | Nov-20 | Dec-21 | 232,600 | an adjustment to the dayrate. Dayrate includes MPD and provision of other services. |
| West Neptune | 7th-BE | 2014 | 12,000 | 40,000 | GoM | LLOG | Dec-19 | Dec-20 | 202,000 | |
| Trinidad | - | - | - | - | ||||||
| West Saturn | 7th-BE | 2014 | 12,000 | 40,000 | Jan-21 | Jun-21 | 225,000 | an adjustment to the dayrate. | ||
| Brazil | ExxonMobil | Jul-21 | Dec-23 | Market indexed rate | the dayrate. | |||||
| West Jupiter | 7th-BE | 2014 | 12,000 | 40,000 | Tenerife | - | - | - | - | |
| West Carina | 7th-BE | 2015 | 12,000 | 40,000 | Malaysia | PTTEP | Mar-20 | Jul-20 | Undisclosed |
We are in discussions with the customer regarding an amendment to suspend the rig
Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in
Dayrate includes MPD. A lump sum mobilization fee is included which is incremental to
| RIG NAME | GENERATION / TYPE |
BUILT | WATER DEPTH (FEET) |
DRILLING DEPTH (FEET) |
LOCATION | CLIENT | START | EXPIRE | DAYRATE US\$ | COMMENTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Jack-ups | ||||||||||
| West Epsilon | Heavy-duty - HE | 1993 | 400 | 30,000 | Norway | - | - | - | - | |
| 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 US\$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 | Thailand | Medco Energi | May-20 | Jun-20 | 87,500 | |
| 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 | |
| West Leda | BE | 2010 | 375 | 30,000 | Malaysia | - | - | - | - | |
| Qatar | GulfDrill | Dec-19 | Jun-23 | Undisclosed | Bareboat charter received from GulfDrill. | |||||
| West Castor | BE | 2013 | 400 | 30,000 | Options | GulfDrill | Jul-23 | Apr-25 | Undisclosed | Bareboat charter received from GulfDrill. |
| AOD l | BE | 2013 | 400 | 20,000 | Saudi Arabia | Saudi Aramco | Jul-19 | Jun-22 | 75,000 | |
| AOD ll | BE | 2013 | 400 | 20,000 | Saudi Arabia | Saudi Aramco | Apr-20 | Apr-23 | 89,900 | |
| AOD lll | BE | 2013 | 400 | 20,000 | Saudi Arabia | Saudi Aramco | Jan-20 | Dec-22 | 92,900 | |
| West Tucana | BE | 2013 | 400 | 30,000 | Qatar | - | - | - | - | |
| Qatar | GulfDrill | Mar-20 | Aug-23 | Undisclosed | Bareboat charter received from GulfDrill. | |||||
| West Telesto | BE | 2013 | 400 | 30,000 | Options | GulfDrill | Sep-23 | Sep-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 | GoM | - | - | - | - | |
| Drillships | ||||||||||
| West Polaris | 6th-BE | 2008 | 10,000 | 35,000 | Southern Asia | Undisclosed | Mar-20 | Nov-20 | Undisclosed | Notice of early termination received from the customer. |
| West Capella | 6th-BE | 2008 | 10,000 | 35,000 | Malaysia | - | - | - | - | |
| West Auriga | 7th-BE | 2013 | 12,000 | 40,000 | GoM | BP | Oct-13 | Oct-20 | 575,000 | A mobilization fee of US\$37.5 million will be received over the contract period. |
| West Vela | 7th-BE | 2013 | 12,000 | 40,000 | GoM | BP | Nov-13 | Nov-20 | 575,000 | A mobilization fee of US\$37.5 million will be received over the contract period. |
| Tender rigs | ||||||||||
| T15 | Barge | 2013 | 6,500 | 30,000 | Singapore | - | - | - | - | |
| T16 | Barge | 2013 | 6,500 | 30,000 | Singapore | - | - | - | - | |
| West Vencedor | Semi-tender | 2010 | 6,500 | 30,000 | Malaysia | - | - | - | - |
SeaMex Limited1
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 | ||||||||||
| BE | 2007 | 350 | Mexico | PEMEX | Sep-19 | Feb-20 | 109,000 | |||
| West Defender | 30,000 | Mar-20 | Jan-26 | Market indexed rate | ||||||
| West Courageous | BE | 2007 | 350 | 30,000 | Mexico | PEMEX | Sep-19 | Feb-20 | 109,000 | |
| Mar-20 | Nov-26 | Market indexed rate | ||||||||
| BE | 2008 | 350 | 30,000 | Mexico | PEMEX | Sep-19 | Feb-20 | 109,000 | ||
| West Intrepid | Mar-20 | May-26 | Market indexed rate | |||||||
| 30,000 | Sep-19 | Feb-20 | 123,000 | |||||||
| West Oberon | BE | 2013 | 400 | Mexico | PEMEX | Mar-20 | Oct-25 | Market indexed rate | ||
| West Titania | BE 2014 |
400 | 30,000 | Sep-19 | Feb-20 | 123,000 | ||||
| Mexico | PEMEX | Mar-20 | Oct-24 | Market indexed rate |
COMMENTS
Northern Ocean Ltd1
Sonadrill Holding Ltd1
HE - Harsh environment BE - Benign environment
Footnote: 1) Non-consolidated units managed by Seadrill Limited. Suspended from operations with re-commencement in 1Q-21. A suspension rate is Dayrate partly received in foreign currency. Fluctuations in exchange rates may result in
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."
| 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 | Feb-22 | Undisclosed | |
| Options | Wintershall | Mar-22 | Feb-23 | Undisclosed | ||||||
| Norway | - | - | - | - | ||||||
| West Bollsta | 7th-HE | 2019 | 10,000 | 35,000 | Norway | Lundin | Oct-20 | Apr-22 | Undisclosed | The commencement of operations is expected to be deferred to early Q4 2020. |
| Options | Lundin | Apr-22 | Dec-22 | Undisclosed |
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.
| 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 | Namibia | Undisclosed | May-20 | Dec-20 | Undisclosed | received during this period. an adjustment to the dayrate. |
| Angola | Undisclosed | Jan-21 | Nov-21 | Undisclosed | ||||||
| Quenguela | 7th-BE | 2019 | 12,000 | 40,000 | Namibia | - | - | - | - |
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.