Seadrill Postpones Ultra Deepwater Drillships

Published at 01:42PM - 15/01/16

Seadrill postpones two ultra deepwater drillships from being delivered in 2016 by Daewoo Shipbuilding & Marine Engineering Korea.

Seadrill announced the news Friday 15th January saying that postponement of the two contracts “significantly improves the Company’s near term liquidity position”.

Seadrill Postpones Ultra Deepwater Drillships

The two drillships,  West Aquila and West Libra were due to be delivered during the second quarter of 2016, at a total cost of over US$800 million.

The new arrangement will see the delivery of the West Aquila and West Libra take place in the second quarters of 2018 and 2019 respectively.

A spokesman for Seadrill said the new arrangement involves “no further payments to the yard until that time.”