Seadrill Ltd receives contract extension for drilling rig West Sirius from Devon Energy

Fri. June 27, 2008; Posted: 09:09 AM

Jun 27, 2008 (NORDIC BUSINESS REPORT via COMTEX) -- DVN | Quote | Chart | News | PowerRating -- Bermuda-registered Norwegian offshore drilling contractor Seadrill Ltd (OSE: SDRL) announced on Friday (27 June) that it has received a contract extension for its deepwater semi-submersible drilling rig West Sirius from Devon Energy.

Devon Energy exercised an option to extend its contract for the rig from four to six years.

The full six-year contract is estimated to be worth approximately USD1,025m.

Seadrill, headquartered in Hamilton, Bermuda, has a fleet of 38 drilling units in operation or under construction. The company has 5,800 employees and reported operating revenues of USD1.32bn in 2007. Seadrill is managed by the Norwegian company Seadrill Management AS.

One British pound (GBP) is worth approximately 1.97 US dollars (USD).

Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com

For full details on Devon Energy Corp (DVN) click here. Devon Energy Corp (DVN) has Short Term PowerRatings of 8. Details on Devon Energy Corp (DVN) Short Term PowerRatings is available at This Link.

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