Seadrill Limited
OSLO : SDRL

May 11, 2011 03:00 ET

SDRL - Repurchase of shares

HAMILTON, BERMUDA--(Marketwire - May 11, 2011) -



Seadrill has through market purchases executed May 10, repurchased 350,000 of the Company's own common stocks at an average price of NOK185.15 per share.

The strategy behind the repurchase is to reduce the total outstanding number of shares after the recently announced notification of Call Option as informed in the press release April 7, 2011, and subsequent conversion of US$721.2 million of the 2012 Convertible bond into equity.

After the purchase, Seadrill has increased its holding of treasury shares to 2,545,690.

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:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Seadrill Limited via Thomson Reuters ONE

[HUG#1514470]

Contact Information

  • Seadrill
    +47 51 30 99 00