SDLP files shelf

Seadrill Partners is looking to raise fresh funds according to a financial disclosure to US regulatory authorities.
Seadrill Partners' semi-submersible West Aquarius

Seadrill Partners' semi-sub West Aquarius

The US-listed master limited partnership (MLP) has filed a shelf registration with the US Securities and Exchange Commission (SEC).

The amount of funds sought was not disclosed, but Seadrill Partners said the net proceeds from any sale of shares would be used for repayment of debt, acquisitions, capital expenditures and additions to working capital.

In March the company successfully raised net proceeds of $366m from the sale of 11.9m shares at $30.60 per share. The funds went towards the acquisition of the drillship West Auriga.

The Seadrill Partners fleet consists of four semi-submersible rigs - the West Capricorn, the West Aquarius, the West Leo and the West Sirius, the drillship West Capella, two tender rigs, the T-15 and the T-16 and the semi-tender West Vencedor.

The company is scheduled to release its first quarter 2014 financial results on Wednesday 28 May 2014 before the start of US trading.

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