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

Jan. 17, 2013 8:15 AM ETSeadrill Limited (SDRL) StockTUWOY, SDRL, TUWLFBy: Carl Surran, SA News Editor1 Comment
Seadrill (NYSE: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.

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