Seadrill (SDRL) secures a contract extension worth ~$450M from Tullow Oil for the use of its...

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

Seadrill (SDRL) secures a contract extension worth ~$450M from Tullow Oil for the use of its ultra-deepwater semi-submersible rig West Leo for work off West Africa, bringing the total contract value to ~$1.13B. The rig has been working for Tullow off Ghana at a dayrate of $525K and is expected to remain in the play until the extended contract expires in 2018.