Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Seadrill Ltd    SDRL   BMG7945E1057

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Seadrill to Buy Ultradeepwater Rig from Songa for $590 Million

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/16/2012 | 01:34pm CET
   By Ben Fox Rubin 
 

Seadrill Ltd. (SDRL, SDRL.OS) said it agreed to buy the ultradeepwater semisubmersible rig Songa Eclipse from Songa Offshore SE (SONG.OS) for $590 million, giving Seadrill increased exposure to the ultradeepwater market.

The Norwegian oil-services company said it intends to take delivery of the rig in December and expects the acquisition to have an immediate impact on cash flow and financial results.

"This investment is in line with our strategy of building a modern fleet through selective acquisitions and organic growth. The ultradeepwater market is in a strong cycle, something we expect to prevail over the coming years," Fredrik Halvorsen, chief executive of Seadrill Management AS, said.

The rig was delivered from the Jurong Shipyard in Singapore in 2011 and is currently operating for Total S.A. (TOT, FP.FR) off the shores of Angola on a fixed contract ending December 2013. Total has three one-year options to extend the contract. The rig has the same design as four of Seadrill's existing rigs.

The Seadrill, which provides drilling and well services, focuses on deepwater drilling. In August, the company said its second-quarter earnings fell as higher operating expenses masked the company's rise in revenue.

Shares were down 0.9% premarket at $37.17. As of Thursday's close, the stock was up 13% since the start of the year.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

Corrections & Amplifications

This item was corrected at 11:47 a.m. EDT to correctly spell Songa Offshore SE (SONG.OS) in the headline. The original misspelled it as Songo.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SEADRILL LTD
02/24 GLANCY PRONGAY & MURRAY LLP : Commences Investigation on Behalf of Seadrill Limi..
02/22 SEADRILL : Watch Vale (VALE) and Seadrill (SDRL)
02/22 SEADRILL : SDRL - Seadrill Limited Reschedules Fourth Quarter 2016 Earnings Rele..
02/13 SEADRILL : SDRL - Q4 2016 earnings release date and conference call information
02/02 SEADRILL LTD : Rising Oil Prices Provide Positive Outlook for Oil & Gas Industry..
02/02 SHIP FINANCE INTERNATIONAL : Update on Seadrill Limited restructuring
01/31 SEADRILL : SDRL - Restructuring update
01/11 SEADRILL : SDRL - Changes to the Board of Directors
01/02 SEADRILL : SDRL Announces 3 Year Contract Extension for Jack-up AOD III
2016 SEADRILL : SDRL Announces three year contract extension for jack-up AOD III
More news
Sector news : Oil & Gas Drilling - NEC
02/21DJTransocean Files 8K - Changes To Articles
02/09DJTransocean Files 8K - Regulation FD
2016DJTransocean Files 8K - Regulation FD
2016DJTransocean Files 8K - Asset Acquisition Or Disposition
2016DJTransocean Files 8K - Regulation FD
More sector news : Oil & Gas Drilling - NEC
News from SeekingAlpha
02/23 Gulfmark Offshore Is Not Like All Of The Rest Of Offshore Companies
02/23 SEADRILL : The End Appears Near
02/22 PREMARKET GAINERS / LOSERS AS OF 9 : 10 am
02/22 Seadrill postpones Q4 earnings report, to restate financials
02/22 Seadrill Will Increase Shareholders' Equity By $120 - $210 Million
Advertisement
Financials ($)
Sales 2016 3 214 M
EBIT 2016 1 088 M
Net income 2016 -173 M
Debt 2016 8 662 M
Yield 2016 0,12%
P/E ratio 2016 -
P/E ratio 2017 19,47
EV / Sales 2016 3,02x
EV / Sales 2017 4,06x
Capitalization 1 030 M
More Financials
Chart SEADRILL LTD
Duration : Period :
Seadrill Ltd Technical Analysis Chart | SDRL | BMG7945E1057 | 4-Traders
Full-screen chart
Technical analysis trends SEADRILL LTD
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 2,51 $
Spread / Average Target 22%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
John Fredriksen Chairman & President
Mark Morris Chief Financial Officer
Alexandra Kate Blankenship Independent Director
Georgina E. Sousa Secretary & Director
Paul Matison Leand Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SEADRILL LTD-39.59%1 030
CHINA OILFIELD SERVICE..5.38%7 592
HELMERICH & PAYNE, INC..-12.91%7 466
SINOPEC OILFIELD SERVI..-2.68%7 378
TRANSOCEAN LTD-9.91%5 230
PATTERSON-UTI ENERGY, ..0.52%4 586
More Results