I don't understand why there are so many transactions between these two companies and what the purpose is. As a seadrill limited stockholder what do they mean to my stock? And WHY are they doing this? Just makes a complicated situation even less understandable.
Seadrill Partners LLC
We are a growth-oriented limited liability company recently formed by Seadrill Limited (NYSE: SDRL) to own, operate and acquire offshore drilling rigs. Our drilling rigs are under long-term contracts with major oil companies such as Chevron, Total, BP and ExxonMobil.
We intend to grow our position in the offshore drilling market by continuing to provide excellent service to these customers with our modern, technologically advanced fleet.
We also intend to leverage the relationships, expertise and reputation of Seadrill to re-contract our fleet under long-term contracts and to identify opportunities to expand our fleet through acquisitions. Seadrill is one of the world's largest international offshore drilling contractors, and we believe Seadrill will be motivated to facilitate our growth because of its significant ownership interest in us.