SDLP - Seadrill Partners LLC Third Quarter 2013 Cash Distribution
October 25 2013 - 8:50AM
London, United Kingdom,
October 25, 2013 - Seadrill Partners LLC (NYSE: SDLP)
("Seadrill Partners" or the "Company") announced today that its
board of directors has declared a quarterly cash distribution with
respect to the quarter ended September 30, 2013 of $0.4275 per
unit. This represents an increase of 2.4% from the second quarter
of 2013.
As already announced in connection with the
acquisition of the tender rig T-16, the Company's management has
recommended to the Board that the quarterly distribution rate be
increased by between US$0.025 and US$0.03 per quarter, an
approximate 7% increase, effective for the distribution in respect
of the quarter ending December 31, 2013. The Board has however
decided to approve an earlier commencement of part of this increase
with the balance of the increase to be considered for the fourth
quarter of 2013.
This cash distribution will be
paid on November 14, 2013 to all unitholders of record as of the
close of business on November 7, 2013.
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. In particular, statements
regarding the Company's ability to complete the acquisition of the
T-16 and projected increases in cash distributions are considered
forward looking statements. 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 forwardlooking statements, which speak only as of
the date of this news release. Important factors that could cause
actual results to differ materially from those in the forward
looking statements include, but are not limited to the performance
of the drilling rigs in the Company's fleet, delay in payment or
disputes with customers, fluctuations in the international price of
oil, changes in governmental regulations that affect the Company or
the operations of the Company's fleet, increased competition in the
offshore drilling industry, and general economic, political and
business conditions globally. 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 SEC, including its Annual
Report on Form 20-F (File No. 001-35704).
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 us 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
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Seadrill Partners LLC via Thomson Reuters ONE
HUG#1738288
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