Seadrill Partners Begins IPO Process

Seadrill Partners Begins IPO Process

Seadrill Partners, today announced that it has started an initial public offering of 8,750,000 common units, and, according to Reuters, the company plans to raise as much as $193 million.

Seadrill Partners, a subsidiary of international drilling contractor Seadrill Limited, intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,312,500 additional common units. The common units being offered to the public have been approved for listing on the New York Stock Exchange under the symbol “SDLP,” subject to official notice of issuance.

Based on the number of common units to be offered, Seadrill Limited will own a 78.8% limited liability company interest in Seadrill Partners following completion of the Offering (or a 75.7% limited liability company interest, if the underwriters exercise in full their option to purchase additional common units.)

Seadrill Partners was formed by Seadrill Limited to own, operate and acquire offshore drilling rigs under long-term contracts. Seadrill Partners’ initial fleet will consist of two semi-submersible rigs (West Capricorn and West Aquarius), one drillship (West Capella) and one tender rig (West Vencedor).

Offshore Energy Today Staff, October 15, 2012

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply