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Seadrill's (SDRL +0.7%) North Atlantic Drilling strikes a sale-and-leaseback deal with Ship...

Seadrill's (SDRL +0.7%) North Atlantic Drilling strikes a sale-and-leaseback deal with Ship Finance (SFL +0.2%) to break off a harsh-environment newbuild jack-up in a move to cut its financial exposure on the rig. SFL will pay $600M to acquire the West Linus, currently under construction at Singapore’s Jurong Shipyard and due for delivery in December, with North Atlantic to take back the rig on a bareboat charter of 15 years.
Comments (1)
  • wigit5
    , contributor
    Comments (3940) | Send Message
     
    So the net out to SDRL is $600M and they lose one rig?
    1 Jul 2013, 11:45 AM Reply Like
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