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Tuesday, November 4, 2014

RPT-BRIEF-Seadrill sells West Vela to Seadrill Partners, (NYSE: SDLP), (NYSE: SDRL)

Seadrill Partners LLC and Seadrill* Seadrill Partners LLC entered into an agreement with Seadrill Limited based on which Seadrill Capricorn Holdings LLC, the Company's 51% owned subsidiary, will acquire all of the ownership interests in the entities that own and operate the drillship West Vela* The Vela Acquisition, which is expected to close within 3 days, will be accomplished through a series of purchases, contributions and assumption of debt.* The implied purchase price of the Vela Acquisition is $900 million, less $433 million of debt outstanding under the existing facility financing the West Vela.

Seadrill Partners LLC (Seadrill Partners) is a limited liability company. Shares of SDLP remained unchanged at $24.44. In the past year, the shares have traded as low as $24.43 and as high as $36.07. On average, 355217 shares of SDLP exchange hands on a given day and today's volume is recorded at 2900.

Seadrill Limited an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Shares of SDRL remained unchanged at $22.26. In the past year, the shares have traded as low as $22.01 and as high as $47.03. On average, 7365500 shares of SDRL exchange hands on a given day and today's volume is recorded at 162042.



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