SDLP - Agreement for West Capricorn
June 29 2016 - 1:30AM
London, United Kingdom, June 29,
2016 - Seadrill Partners LLC ("the Company") has reached
an agreement with the current operator to remain on an extended
standby rate of $316,000 per day with expected recommencement of
work in late 2017 at the full operating rate of $526,000 per
day. The unit had been down-manned in May and will be warm
stacked during the extended standby period. As part of this
agreement the operator must indicate its intention to recommence
work by April 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. In particular, statements regarding projected
changes in the Company's cash distributions, the Company's
anticipated growth strategies and its ability to re-contract its
drilling rigs 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 forward
looking 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; hire rates and factors affecting supply
and demand for drilling rigs; the financial condition of the
Company's existing or future customers; 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 NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Seadrill Partners LLC via Globenewswire
HUG#2023591
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