Seadrill seals $319M in jack-up deals

|By:, SA News Editor

Seadrill (SDRL +1.4%) says it secured new contracts for jack-up units West Tucana, West Telesto, West Ariel and West Prospero, and a contract for the West Mischief is extended by four months; the total revenue potential for the four new contracts and one extension is ~$319M.

The West Tucana will be headed to offshore Angola for work with Chevron's (CVX) wholly owned operating unit in the country; total revenue potential for the 24-month primary contract term is ~$168M.

SDRL now has 92% of its jack-up capacity contracted for 2014 and 64% for 2015, with total order backlog for the jack-up fleet at $4.4B.