SDRLF - Seadrill Partners files for Chapter 11 bankruptcy

Seadrill Partners (SDLPF) says it will shop its assets while in bankruptcy, the second time in slightly more than three years parts of its business have tipped into Chapter 11.Seadrill Partners and several related corporate entities filed for Chapter 11 protection yesterday in U.S. Bankruptcy Court in Houston, listing $4.58B in assets and $3.12B in debt.The company says it intends to complete a consensual restructuring of its debt and ensure "that all customer, vendor and employee obligations are met without interruption."London-based Seadrill Ltd. (SDRLF), which is not part of Tuesday's Chapter 11 filings, owns 35% of Seadrill Partners.In June, Seadrill Ltd. said it wrote off its stake in Seadrill Partners, which owns and operates a fleet of drillships, semi-submersible rigs and tender rigs.

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Seadrill Partners files for Chapter 11 bankruptcy