This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SDRL - Seadrill Limited Agrees To Acquire High Specification Jack-up Prospector 3

HAMILTON, Bermuda, Nov. 15, 2013 (GLOBE NEWSWIRE) --
Seadrill Limited announced today that it
has entered into an agreement to acquire the company that owns the yard
construction contract of the newbuild high specification jack-up rig Prospector
3 from Prospector Offshore for a total purchase price of US$235 million. In
addition, Seadrill will provide drilling and handling tools, spares and
operations preparations resulting in a total cost for this rig, ready to drill,
of approximately US$250 million.
The Prospector 3 is scheduled to be delivered from Dalian Shipbuilding Industry
Offshore Co., Ltd. (DSIC Offshore) in China during the first quarter of 2014.
The new unit is based on the F&G JU2000E design, with water depth capacity of
400ft and drilling depth of 35,000ft.
The agreement with Prospector is subject to approval by DSIC Offshore.
The lack of premium jack-up newbuild activity over the last decade is beginning
to be felt and demand is currently exceeding available supply.  The tightness in
the market is leading many customers to contract these units for significantly
longer terms than previously experienced for this asset class.  The Board of
Seadrill continues to be of opinion that the premium jack-up market provides a
compelling investment opportunity.

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


CONTACT: Seadrill
         +47 51 30 99 00

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs