Seadrill In Talks To Sell Qatar Jack-Up Fleet

(RTTNews) - Seadrill Limited (SDRL) said Monday that it is in active discussions to sell the jack-up rigs known as the West Castor, West Telesto and West Tucana or the "Qatar Jack-Up Fleet" and Seadrill's 50% equity interest in Gulfdrill.

Qatar Jack-Up Fleet are bareboat chartered by Seadrill to Gulfdrill LLC, a 50:50 joint venture between Seadrill and Gulf Drilling International.

Seadrill noted that it has not reached agreement yet on material terms, including price, with any potential purchaser.

Any transaction remains subject to additional due diligence and the negotiation and execution of definitive agreements. There is no certainty at the stage that the process will continue or that a transaction will materialize.