While the cash infusion would be invaluable in the condition Seadrill is in now, the value of the 5 year Husky Energy contract loss following Hyundai’s delivery delay dwarfs this settlement sum. Spread over the duration of the lost contract’s 5-year duration, this settlement translates to a notional day rate of US$93,000 a day, a fraction of the base day rate of close to US$550,000 a day under the Husky contract . And this is not even taking into account that the settlement sum invariably includes the recovery of some deposit under the build contract.
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