Seadrill Partners 4Q Highlights Seadrill Partners reports net income attributable to Seadrill Partners Members for the fourth quarter 2014 of 33.1 million and operating income of 168.9 million. Generated distributable cash flow of…
Significant Progress Since IPO Major Events to Date 46% distribution growth since IPO Tender rig T-15 acquired for US210 million Tender rig T-16 acquired for US200 million Public offering of US380 million West Sirius and West…
West Vela Acquisition West Vela Contract Details Acquired by Seadrill Capricorn Holdings LLC (51% owned by SDLP) Dayrate: 565,000 (plus approx. 44,000 per day as a mobilization fee paid over the term of the contract Seadrill…
Assets & Contracts 2015 2016 2017 2018 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Vencedor West Aquarius US540,000 US615,000 West Capella * US627,500 West Capricorn US495,000 US494,000 West Leo…
Growth Additional UDW rigs from Seadrill 2015 2016 2017 2018 Unit Customer 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Alpha ExxonMobil US506,000 Rosneft 07.2021 West Vela BP US565,000 11.2020 West Auriga BP US565,000…
Financial Performance Highlights 9
Income Statement Operating income Unaudited accounts in USD millions 4Q14 3Q14 Contract revenues 369.1 333.4 Reimbursable revenues 11.5 7.0 Total operating revenues 380.6 340.4 Vessel and rig operating expenses 117.5 115.4…
Income Statement Net Income Unaudited accounts in USD millions 4Q14 3Q14 Net operating income 168.9 153.6 Financial items Interest income 1.0 0.8 Interest expense (39.4) (35.3) (Loss) / Gain on derivative financial instruments…
Balance Sheet - Assets Unaudited accounts in USD millions 4Q14 3Q14 Current assets Cash and cash equivalents 242.7 447.3 Accounts receivable, net 294.5 194.1 Mobilization revenue short term - - Amount due from related party 62.7…
Balance Sheet Liabilities & Members Capital / Owners Equity Unaudited accounts in USD millions 4Q14 3Q14 Current liabilities Current portion of long-term debt 76.5 29.0 Current portion of long-term related party payable 98.0 98.0…
Distributable Cash Flow Unaudited accounts in USD millions 4Q14 3Q14 EBITDA for the quarter 225.4 201.2 Less: Adjustment for amortization of mobilization revenue 16.4 7.2 Adjusted EBITDA 241.8 208.4 Cash Interest Income 2.0…
Summary & Outlook Seadrill Partners Positioned for a Challenging 2015 Sound operational performance and strong distribution coverage at 1.45x Refinanced 2.9 billion of debt in 2014 at attractive margins & amortization profile Long…
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