Seadrill Partners LLC has received an early termination notice for the West Vencedor contract offshore Cote d’Ivoire prior to its commencement which was expected in Q3 2019. The unit had recently completed its work in Myanmar and will now stay in Southeast Asia to be marketed for additional opportunities.
Seadrill Partners is expected to receive a lump sum early termination payment in Q3 2019 of approximately the amount of adjusted EBITDA that would have been earned under the firm term of the contract and backlog will decrease by $20 million.
Source: Seadrill
Photo: Seadrill
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