SDLP - Seadrill Partners LLC received early termination notice for the West Vencedor
SEADRILL PARTNERS (SDLP)
US:NYSE Investor Relations:
seadrillpartners.com/investor-relations
Company Research
Source: GlobeNewswire
London, United Kingdom, August 2, 2019 - Seadrill Partners LLC ("SDLP" or "the Company") has received an early termination notice for the West Vencedor contract offshore Cote d’Ivoire prior to its commencement which was expected in Q3 2019. The unit had recently completed its work in Myanmar and will now stay in Southeast Asia to be marketed for additional opportunities. Seadrill Partners is expected to receive a lump sum early termination payment in Q3 2019 of approximately the amount of adjusted EBITDA that would have been earned under the firm term of the contract and backlog will decrease by $20 million. 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 offshore drilling markets, the Compan
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