From the Wires
SDRL - Operational update fourth quarter 2012
By: Marketwired .
Jan. 31, 2013 05:22 PM
HAMILTON, NORWAY -- (Marketwire) -- 01/31/13 --
In line with what the Company communicated in the third quarter financial report, general and administrative costs have increased due to the management transition process to London, as well as expenses related to the development of one specific IT project. During the transition process the general and administrative costs will be US$10-20 million higher than what has been historically reported, but is expected to be reduced after the transition process has been finalized in the second half of 2013.
The first quarter 2013 results will also be impacted by the West Hercules taking longer than anticipated to be ready for its next assignment. The rig commenced its new contract with Statoil on January 31, 2013.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients. The owner of this announcement warrants that:
Source: Seadrill Limited via Thomson Reuters ONE [HUG#1674844]
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