SOURCE: Seadrill Limited

August 17, 2010 10:21 ET

SDRL - Seadrill subsidiary Seawell Limited completes share issue

HAMILTON, NORWAY--(Marketwire - August 17, 2010) -


Hamilton, Bermuda, August 17, 2010 - The Seadrill Limited subsidiary Seawell Limited has completed the NOK2,654 million (~US$432 million) private placement at NOK23.0 (~US$3.7) per share that was announced yesterday. Seadrill has been allocated 34.9 million shares and has as such increased its holding to 116.1 million shares equivalent to 51.5 percent of the outstanding shares in Seawell.

Seawell will following the private placement repay NOK825 million (~US$134 million) to Seadrill in intercompany debt.

Contact:
Jim Dåtland
Vice President Investor Relations
Seadrill Management AS
+47 51 30 99 19

This information is subject of the disclosure requirements acc. to §5- 12 vphl (Norwegian Securities Trading Act)

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Source: Seadrill Limited via Thomson Reuters ONE

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