SDRL - Comments to the fourth quarter 2009 results
(Thomson Reuters ONE) - Seadrill will announce the fourth quarter 2009 results on February 25, 2010.In the third quarter 2009 report certain operational events impacting the fourthquarter performance were addressed. This included downtime related to the repairwork on the deepwater unit West Hercules following a typhoon in the South ChinaSea that put the rig out of work for most of October and a three week yard-stayfor the harsh environment deepwater drillship West Navigator. In the aftermathof the yard-stay, West Navigator has experienced one week of downtime inDecember as well as approximately 30 days downtime in January/February 2010 dueto adjustment of various surveyed equipment. The semi-submersible rig West Alphacompleted a mandatory survey mid October in line with original budget. The rigreceived compensation from the charterer for the yard-stay period. In connectionwith these yard-stays a US$15 million charge related to repair and maintenancework will be taken in the Income Statement. Furthermore, in December, thedeepwater semi West Sirius incurred approximately 18 days of downtime related toBOP challenges. The harsh environment semi-submersible rig West Venturecompleted a short yard-stay for installation of third party equipment inconnection with its operation on the Troll field in Norway this week. The righas been on dayrate during the yard-stay. There has not been any othersignificant downtime period that has influenced the utilization of the operatingfleet in the fourth quarter 2009 or so far in the first quarter 2010.As previously mentioned, the fourth quarter results will also include a US$12million charge related to the Singaporean yard PPL exercising its right toacquire the jack-up West Elara from Seadrill. In December, the jack-up WestAtlas was declared a total loss following a fire. The insurance payment has beenreceived resulting in a gain of US$59 million which will be booked in the IncomeStatement.Seadrill LimitedHamilton, BermudaFebruary 5, 2010This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1381046]
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Datum: 05.02.2010 - 02:44 Uhr
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