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Stock Market & Financial Investment News

News Breaks
December 21, 2012
05:43 EDTSDRL, STOSeadrill subsidiary North Atlantic Drilling extends contract for West Epsilon
North Atlantic Drilling, a majority owned subsidiary of Seadrill (SDRL), announced that Statoil (STO) has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016. The estimated value of the contract extension is $215M.
News For SDRL;STO From The Last 14 Days
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January 29, 2015
06:58 EDTSTOGE partners with Statoil on anti-pollution research, FT says
General Electric (GE) and Norway's Statoil (STO) are launching an R&D partnership centered on reducing greenhouse gas emissions, reports the Financial Times, citing statements by Statoil CEO Eldar Sætre and GE Oil & Gas CTO Eric Gebhardt. The companies are also looking at ways of reducing costs and natural resource expenditure within the industry, believing regulations will be tightened in the future. Projects include using oilfield gas to power drill rigs rather than flaring it off, using liquid carbon dioxide instead of water during fracking operations, and crowd-sourcing ideas for using less sand during fracking. Reference Link
January 27, 2015
10:00 EDTSTOOn the Fly: Analyst Downgrade Summary
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06:35 EDTSTOStatoil downgraded to Underperform from Neutral at Credit Suisse
January 23, 2015
07:08 EDTSTONorwegian Statoil seeks to cut costs as oil prices drop, WSJ says
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January 22, 2015
09:16 EDTSDRLOn The Fly: Pre-market Movers
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08:49 EDTSDRLNorth Atlantic Drilling says Seadrill to back 2018 bond in trade for amendments
North Atlantic Drilling (NADL) announces the launch of an amendment process whereby Seadrill Limited (SDRL) will provide a guarantee for the company's NOK 1.5B bond maturing in 2018, in exchange for some amendments to the bond covenant package, namely replacing the NADL's current financial covenants with Seadrill's financial covenants from Seadrill's NOK denominated bonds. Concurrent with the amendment process for the Bond Agreement, NADL has also launched an amendment process for its secured credit facilities whereby Seadrill Limited will provide a guarantee. Successful conclusion of this process will amend the terms of the loan agreements to align with the terms set forth in Seadrill Limited's loan agreements. "The company's lenders have been supportive thus far and we expect successful conclusion of this amendment in the weeks to come," the company stated. North Atlantic Drilling shares are up 19% in pre-market trading following the announcement.

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