Seadrill Partners has announced that it has received a notice of termination for the contract for the drillship West Capella, chartered to ExxonMobil for work at the Usan Field in Nigeria.
In accordance with cancellation for convenience provisions in the contract, Seadrill Partners will receive a payment of around $125m plus other direct costs incurred as a result of the early termination.
The West Capella is currently being marketed for new work and is expected to be in Tenerife during its idle period.
According to Norwegian analysts Seadrill is “unable to meet its financial commitments.”
http://fredriksenwatch.blogspot.de/2016/05/seadrill-cannot-meet-its-financial.html