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Seadrill Partners Emerges from Chapter 11

Seadrill Partners LLC has announced that it has emerged from Chapter 11 after successfully completing its reorganization plan.
Seadrill Partners LLC has announced that it has emerged from Chapter 11 after successfully completing its reorganization plan.
The plan equitized approximately $2.8 billion in funded debt obligations, leaving the company debt free on emergence, Seadrill Partners noted. The business outlined that it is well positioned to secure drilling contracts and invest in its high specification ultra deepwater, harsh environment, and tender rig fleet going forward.
As part of the plan, new management services agreements were entered into for the management of the company’s offshore drilling units and a transition services agreement was agreed to with the company’s prior manager that provides for a safe and efficient transition, Seadrill Partners highlighted. The company added that the plan has resolved all potential claims against the business alleged b ....

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SDLP - Seadrill Partners LLC Announces Emergence from Chapter 11

Seadrill or the
Company ) announces today (the
Effective Date ) that it has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization (the
Plan ). All conditions precedent to the restructuring contemplated by the Plan have been satisfied or otherwise waived.
The Plan has equitized approximately $2.8 billion in funded debt obligations, leaving the Company debt free on emergence. As part of the Plan, New Management Services Agreements were entered into for the management of the Company s offshore drilling units and a Transition Services Agreement was agreed to with the Company s prior manager that provides for a safe and efficient transition. Additionally, the Plan has resolved all potential claims against the Company alleged by related parties, secured and unsecured creditors. ....

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SDLP - Seadrill Partners LLC Announces Emergence from Chapter 11

SDLP - Seadrill Partners LLC Announces Emergence from Chapter 11
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