Seadrill signs Mexican rig deals worth $1.8B

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Seadrill (SDRL -1.7%) says it secured contracts to rent out five of its jack-up rigs to Mexican oil firm Pemex, with expected revenues of more than $1.8B over a six-year period.

SDRL also will establish a joint venture with an investment fund controlled by Fintech Advisory which will own the rigs working for Pemex; the new company, called SeaMex, will be owned 50% by SDRL and 50% by the Fintech fund.