Seadrill Partners Highlights Seadrill Partners reports net income attributable to Seadrill Partners Members for the first quarter 2013 of US20.6 million and net operating income for the first quarter of US75.5 million. Average…
Subsequent Events On May 7, 2013, Seadrill Partners announced the acquisition of the T-15 tender rig from Seadrill for a purchase price US210 million. The transaction closed on May 17, 2013. Contracted for a five-year period with…
Contracted Rates Below Leading Edge Rates UDW Dayrates (US 000 per day) 700 650 600 West Capella 550 West Aquarius USDk per day 500 West Capricorn 450 400 350 300 250 200 06 07 08 09…
Dropdown Candidates 2014 2015 2016 2017 2018 2019 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q T16 US115,500 Right to acquire West Leo 525' US605,000 West Mira US590,000 West Sirius…
T-15 Tender Barge Acquisition USD millions Purchase Price 210 Financed by: Bank Debt Facility with Seadrill 100 Vendor Loan from Seadrill 110 Current Contract Rate 115,000 per day Initial Contract Term 5 years Management…
Financial Performance Highlights 10
Income Statement Operating income Unaudited accounts in USD millions 1Q13 4Q12 Contract revenues 161.5 157.6 Reimbursable revenues 4.5 23.5 Other revenues 4.8 - Total operating revenues 170.8 181.1 Vessel and rig operating…
Income Statement Net Income Unaudited accounts in USD millions 1Q13 4Q12 Net operating income 75.5 72.2 Financial items Interest income 0.5 1.7 Interest expense (14.1) (12.3) Gain / (Loss) on derivative financial instruments 6.2…
Balance Sheet - Assets Unaudited accounts in USD millions 1Q13 4Q12 Current assets Cash and cash equivalents 20.0 19.4 Accounts receivable, net 204.0 134.1 Mobilization revenue short term 16.3 13.6 Amount due from related…
Balance Sheet Liabilities & Members Capital / Owners Equity Unaudited accounts in USD millions 1Q13 4Q12 Current liabilities Current portion of long-term related party payable 180.5 225.5 Revolving credit facility 90.3 - Trade…
Distributable Cash Flow Unaudited accounts in USD millions 1Q13 4Q12 EBITDA for the First Quarter 2013 97.1 94.2 Less: Amortization of Mobilization Revenue and Expenses (2.6) (3.0) Adjusted EBITDA 94.5 91.2 Cash Interest Income…
Summary Strong market fundamentals and increased average contract term First accretive acquisition completed and management recommendation for an 8% increase in distributions Significant growth opportunities from Seadrills…
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