Seadrill wins $497M Exxon contract for drilling rig

Seadrill (SDRL +1.7%) says it won a two-year $497M contract from Exxon Mobil (XOM +0.2%) for employment of one of its newbuild ultra-deepwater drillships.

The deal is for work in Nigeria, in support of the ERHA North Phase 2 project.

The rig, under construction by Samsung Heavy Industries, will be delivered in September.

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Comments (9)
  • wigit5
    , contributor
    Comments (4365) | Send Message
    Can't be $SDRL is going down to $25 last time I heard pundits and think tanks talk...
    8 Aug 2014, 12:44 PM Reply Like
  • Stock Market Mike
    , contributor
    Comments (3730) | Send Message
    Is that a $680k day rate?


    8 Aug 2014, 12:45 PM Reply Like
  • DGI_Dan
    , contributor
    Comments (88) | Send Message
    I think the dayrate will be somewhere close to $640k after factoring the mobilzation costs which run from $20-40 million.
    8 Aug 2014, 01:15 PM Reply Like
  • scuzzi83
    , contributor
    Comments (11) | Send Message
    Subtract the mobilization fee to get the dayrate.
    8 Aug 2014, 12:52 PM Reply Like
  • 745
    , contributor
    Comments (388) | Send Message
    That's got to be a record day rate I would think?
    8 Aug 2014, 01:31 PM Reply Like
    , contributor
    Comments (589) | Send Message
    Can anyone tell me how to get rid of this annoying "Next Headline on your portfolio:" that has started to pop up when reading comments recently? Its getting to the point where the article needs to be found with a magnifying glass.
    8 Aug 2014, 01:33 PM Reply Like
  • Not_Quite_Pheidippides
    , contributor
    Comments (405) | Send Message
    Meanwhile, West Tellus is sitting nearby, ready stacked and not earning money. I'd really like to hear an announcement about that unit getting back to work --
    hopefully we'll hear something about that when they release earnings. Other than that, Seadrill's growth story remains on track.
    8 Aug 2014, 02:05 PM Reply Like
  • blake303
    , contributor
    Comments (194) | Send Message
    8 Aug 2014, 02:26 PM Reply Like
  • user 18159032
    , contributor
    Comments (2048) | Send Message
    blake;Starts tomorrow
    8 Aug 2014, 04:13 PM Reply Like
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