Seadrill Limited ("Seadrill" or "The Company"), announces that it has reached an agreement with Shelf Drilling to sell the West Triton, West Resolute and West Mischief for a total consideration of $225 million subject to customary closing conditions. The West Triton and West Resolute are scheduled to be delivered to Shelf Drilling by the end of May 2017 and the West Mischief during 3Q 2017 after completion of its current drilling contract with NDC in Abu Dhabi.

The total debt outstanding on these three units is $102 million providing excess sale proceeds of $123 million.

The carrying value of the three units totals $415 million. A loss on disposal of $190 million is expected to be realized for the first quarter of 2017.

About Seadrill

Seadrill is a leading offshore deepwater drilling company, aiming to be our customers' most important partner in making oil and gas available in a safe and cost-effective manner.

The company operates a versatile fleet of 69 units that comprises drillships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in harsh and benign environments.

About Shelf Drilling


Shelf Drilling is the world’s largest contractor of jack-up rigs. We are incorporated under the laws of the Cayman Islands with Management headquartered in Dubai with rig operations across four core operating regions – Southeast Asia, India, West Africa and MENAM (Middle East, North Africa & Mediterranean). Our strategy is to maintain a sole focus on shallow water drilling services and leverage decades of industry experience and an outstanding track record to provide best-in-class drilling operations for our customers.