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SDRL - Seadrill Announces Fourth Quarter 2013 Results

Long-term interest bearing debt increased to US$11,900 million from US$10,087 million over the course of the quarter and total net interest bearing debt increased to US$13,874 million from US$12,647 million.  The increase is primarily due to the new US$1,750 million Sevan credit facility, the re-financing of the West Eminence and subsequent use of the freed up cash to pay yard installments.

Total equity increased to US$8,202 million from US$7,766 million as of December 31, 2013, primarily driven by net income for the quarter, proceeds from the Seadrill Partners equity offering, and a gain on our SapuraKencana investment, offset by dividends paid.

Cash flow

As of December 31, 2013, cash and cash equivalents were US$744 million, an increase of US$193 million compared to the previous quarter.

Net cash from operating activities for the twelve month period ended December 31, 2013 was US$1,696 million and net cash used in investing activities for the same period was US$2,964 million.  Net cash provided by financing activities was US$1,694 million.

Media contact Rune Magnus Lundetræ Chief Financial Officer Seadrill Management Ltd.  +44 (0) 7766 071010   

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

Seadrill Fourth Quarter 2013 results http://hugin.info/135817/R/1764342/598231.pdf Seadrill Limited Fleet Status 4Q 2013 http://hugin.info/135817/R/1764342/598234.pdf

HUG#1764342

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