Seadrill Partners LLC (OTCMKTS:SDLPF) is a master limited partnership formed as an affiliate of Seadrill Limited to own and operate offshore drilling rigs and related assets. The partnership’s fleet comprises ultra-deepwater semisubmersible and drillship units, alongside specialized tender‐assist drilling vessels. These assets are contracted to national and independent oil and gas companies for exploration, development and production projects in challenging deepwater environments.
The company’s primary business activities include long‐term contract drilling and well intervention support services. Its fleet is configured for harsh‐environment and ultra‐deepwater operations, offering capabilities such as managed pressure drilling, dual activity drilling and dual derrick operations. By focusing on high-specification assets, Seadrill Partners aims to deliver reliable uptime and operational efficiency, addressing the technical demands of frontier deepwater basins.
Seadrill Partners was established in 2012 through an initial public offering on the New York Stock Exchange, before transitioning to over-the-counter trading under the symbol SDLPF. Since inception, the partnership’s rigs and vessels have been deployed across key offshore markets including the U.S. Gulf of Mexico, West Africa, Brazil and Southeast Asia. This geographic diversity enables the company to leverage global contract opportunities and mitigate region-specific cyclical risks.
The partnership is managed by the Seadrill group’s executive leadership and governed by a board of directors with extensive industry experience. Seadrill Partners seeks to generate stable cash flows for unitholders through disciplined capital allocation and long‐term contractual commitments, while adhering to rigorous safety and environmental standards in its offshore operations.
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