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BRIEF-Seadrill: North Atlantic drilling wins ConocoPhillips contract
April 11, 2017 / 5:50 AM / 5 months ago

BRIEF-Seadrill: North Atlantic drilling wins ConocoPhillips contract

April 11 (Reuters) - Seadrill Ltd

* north atlantic drilling announces contract awards for the West Wlara and the West Linus

* Total additional backlog for new contract awards is estimated at $1.4 billion excluding performance bonuses.

* As part of agreement, company has agreed to a dayrate adjustment on existing west linus contract effective from april 2017, resulting in a $58 million reduction in current backlog.

* New west elara contract which is expected to commence in october 2017 includes a period of fixed dayrates until march 2020 and contributes approximately $160 million of contract backlog. A

* Contract on west linus has been extended from may 2019 until end of 2028 at a market indexed dayrate, which company believes will contribute an estimated $706 million of contract backlog.

* Work is for ConocoPhillips at the Ekofisk field off Norway. Source text for Eikon: Further company coverage: (Reporting by Gwladys Fouche)

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