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SDRL - Seadrill Limited Announces Closing Of Public Offering And Private Placement Of Seadrill Partners LLC

HAMILTON, Bermuda, Dec. 9, 2013 (GLOBE NEWSWIRE) -- Seadrill Limited ("Seadrill") (NYSE:SDRL) announced today that it has completed its purchase from Seadrill Partners LLC ("Seadrill Partners") of 3,394,916 common units, representing liability company interests in Seadrill Partners, at a price of $29.50 per common unit in a private placement.

In addition, Seadrill Partners closed its previously announced offering of 12,880,000 common units in a public offering at a price of $29.50 per common unit (including 1,680,000 common units sold pursuant to the underwriters' over-allotment option).

Seadrill Partners intends to use the net proceeds from the public offering and the concurrent private placement to Seadrill to fund Seadrill Partners' portion of the cash purchase price in connection with the previously announced proposed acquisitions by Seadrill Operating LP and Seadrill Capricorn Holdings LLC of the semi-submersible drilling rigs, the West Leo and the West Sirius, respectively.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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

CONTACT: Seadrill 
         +47 51 30 99 00

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