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Stock Market & Financial Investment News

News Breaks
April 16, 2013
15:24 EDTSDRLSeadrill awarded three-year contract for newbuild West Neptune
Seadrill has signed a contract with LLOG Bluewater Holdings for employment of the new-build drill-ship, West Neptune, offshore Gulf of Mexico. The contract duration is a minimum of three years plus an option for a one-year extension at mutually agreed rates. The potential revenue for the primary contract term is approximately $662M, the company said. The West Neptune is expected to be delivered to Seadrill from the Samsung Heavy Industries shipyard in early June 2014.
News For SDRL From The Last 14 Days
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January 31, 2016
15:50 EDTSDRLSeadrill expands cost cuts, Bloomberg says
In a Bloomberg interview published Sunday, Seadrill CEO Per Wullf said the company's cost cutting efforts this year will exceed the $200M target previously announced in November. Nearly 80% of the 2016 cuts are sustainable, Wullf told the publication. The Chief Executive noted that, in terms of the floating rig market, "we're likely to be at the end of 2017 before this starts being fun again," while adding that he would now accept a $300,000 day rate for an idle floating rig on a 12-month or longer contract. Reference Link

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