Sdrl -- Sonadrill Joint Venture Contract Award

Date : 09/04/2019 @ 1:26AM
Source : Dow Jones News
Stock : Seadrill Ltd (SDRL)
Quote : 1.87  0.02 (1.08%) @ 1:00AM
After Hours
Last Trade
Last $ 1.90 ▲ 0.03 (1.60%)

Sdrl -- Sonadrill Joint Venture Contract Award

Seadrill (NYSE:SDRL)
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2 Months : From Aug 2019 to Oct 2019

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TIDMSDRL 
 
 
   Hamilton, Bermuda, September 4, 2019 -- Sonadrill Holding Ltd 
("Sonadrill"), Seadrill Limited's ("Seadrill") 50:50 joint venture with 
an affiliate of Sonangol E.P. ("Sonangol"), has secured a nine well 
contract with six options, each for one well, in Angola for the Libongos 
drillship. The estimated total contract value is $101 million with 
commencement expected late Q3 2019 and running to early 2021. 
 
   The Libongos is the first of two Sonangol owned drillships to be 
bareboat chartered into Sonadrill along with two Seadrill-owned or 
managed units. Seadrill will manage and operate the four units on behalf 
of Sonadrill. 
 
   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, the markets in which it operates and 
its restructuring efforts. 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. 333-224459). 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 to the disclosure requirements pursuant to 
Section 5-12 the Norwegian Securities Trading Act 
 
 
 
 

(END) Dow Jones Newswires

September 03, 2019 20:11 ET (00:11 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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