Seadrill Ltd. has entered into an agreement with Seadrill Partners to sell all of the ownership interests in the entities that own and operate the drillship West Vela to Seadrill Capricorn Holdings LLC, Seadrill Partners’ 51%-owned subsidiary, according to a press release. The acquisition will be accomplished through a series of purchases, contributions and assumption of debt.
The West Vela is a sixth-generation, dynamically positioned drillship. It is expected to carry out operations in the U.S. Gulf of Mexico until the end of its contract in November 2020.
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