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HomeMaritime NewsRegionsEuropeSeadrill buys drilling unit for $456m from SFL

Seadrill buys drilling unit for $456m from SFL

Seadrill buys drilling unit for $456m from SFL
Seadrill Limited has exercised a purchase option for an ultra-deepwater drilling unit from Ship Finance International (SFL) at a price of $456m.

The drilling unit West Polaris was acquired by SFL in 2008 and bareboat chartered to Seadrill with purchase options starting in 2012.
 
SFL will receive approximately $108m in net cash proceeds from the sale, and the cash proceeds are expected to be reinvested in new assets.
 
Following this transaction, SFL will have two ultra-deepwater drilling rigs on charter to Seadrill, and the next purchase options will be in November 2016 and February 2017 for the West Hercules and the West Taurus, respectively.

TAGS: Offshore
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