HAMILTON, Bermuda – Seadrill (NYSE: SDRL) has entered an agreement with Seadrill Operating LP, the 58%-owned subsidiary of Seadrill Partners LLC, concerning the sixth-generation drillship West Polaris.
Seadrill Operating will acquire all shares of Seadrill Polaris, the entity that owns and operates the drillship, from Seadrill.
Samsung Shipyard delivered the DP drillship in 2008. It is set to operate offshore Angola until the end of its contract with ExxonMobil in March 2018.
West Polarisis currently contracted at a day rate of $653,000.