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BP - Seadrill Partners: West Capricorn Contract Is Terminated
BP p.l.c.
West Capricorn
Seadrill Partners (SDLP) has just announced that it has received early termination notice for the semi-sub West Capricorn. The rig was expected to be drilling for BP (BP) in the U.S. Gulf of Mexico until late July 2019 but now will finish the work in late April 2019. The company will receive early termination payments and will continue to actively market the rig.
The market has met the news calmly. In my opinion, this reaction is explained by the fact that Seadrill Partners won’t suffer financially due to this