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SDRL - Seadrill Announces Proposed Offering Of US$500 Million Of Unsecured Senior Notes Due 2020

Stocks in this article: SDRL

HAMILTON, Bermuda, Sept. 20, 2013 (GLOBE NEWSWIRE) --

Hamilton, Bermuda, September 20, 2013 - Seadrill Limited (the "Company" or
"Seadrill") (NYSE: SDRL), a global offshore drilling contractor, announced today
that it intends to offer US$500 million in aggregate principal amount of
unsecured senior notes due 2020 (the "Notes") in a private offering within the
United States to qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and to certain other
persons outside of the United States in reliance on Regulation S under the
Securities Act.

Seadrill intends to use the net proceeds of this offering to for repayment of
debt, drilling unit acquisitions and general corporate purposes, including
working capital.

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the Notes, nor shall there be any sale of the Notes in any
jurisdiction in which such offer, solicitation or sale is unlawful. Any offer of
the Notes will be made only by means of a private offering memorandum.

The Notes have not been, and will not be, registered under the Securities Act or
the securities laws of any other jurisdiction and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements under the Securities Act.

Cautionary Notice Regarding Forward-looking Statements

This report contains forward-looking statements. These statements are based on
various assumptions, many of which are based, in turn, upon further assumptions,
including Seadrill management's examination of historical operating trends.
Including among others, factors that, in Seadrill's view, could cause actual
results to differ materially from the forward looking statements contained in
this report are the following: (i) the competitive nature of the offshore
drilling industry; (ii) oil and gas prices; (iii) technological developments;
(iv) government regulations; (v) changes in economical conditions or political
events; (vi) inability of Seadrill to obtain financing for the newbuilds or
existing assets on favorable terms or at all; (vii) changes of the spending plan
of our customers; (viii) changes in Seadrill's operating expenses including crew
wages; (ix) insurance; (x) dry-docking; (xi) repairs and maintenance; (xii)
failure of shipyards to comply with delivery schedules on a timely basis; (xii)
and other important factors mentioned from time to time in our reports filed
with the United States Security Exchange Commission ("SEC") and the Oslo Stock
Exchange.

The forward-looking statements included in this press release are made only as
of the date of this release, and except as otherwise required by federal
securities law, we do not have any obligation to publicly update or revise any
forward-looking statements to reflect subsequent events or circumstances.



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


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