*Seadrill Partners  reports net  income attributable  to Seadrill  Partners 
    Members for the first  quarter 2013 of US$20.6  million and net  operating 
    income for the first quarter of US$75.5 million.

  *Generated distributable cash flow of US$18.0 million for the first quarter
    2013, which represents the first full  quarter since the Company's IPO  in 
    October 2012, with a coverage ratio of 1.13x.

  *Declared distribution for the first quarter of US$0.3875 per unit.

Subsequent Events

  *On May 7, 2013,  Seadrill Partners announced the  acquisition of the  T-15 
    tender rig from  Seadrill for  a purchase  price of  US$210 million.  The 
    transaction closed on May 17, 2013.

  *Management  recommendation  to  increase  the  quarterly  distribution  by 
    between US$0.0275 and US$0.0325, an approximate 8% increase.

  *On May 15, 2013 the Company paid  a distribution for the first quarter  of 
    US$0.3875 per unit.

Financial Results Overview

Seadrill Partners LLC reports:
Total contract revenues of  US$161.5 million for the  first quarter 2013  (the 
"first quarter") compared to  US$157.6 million in the  fourth quarter of  2012 
(the "fourth quarter").

Net operating income for  the quarter of US$75.5  million compared to  US$72.2 
million in the preceding quarter.

Net Income  of US$62.1  million  compared to  US$50.8  million in  the  fourth 
quarter. This  is  after the  recognition  of non-cash  market  valuations  of 
derivatives instruments. Financial items reflect a gain of US$6.2 million  for 
such items in the first  quarter as compared to a  loss of US$5.1 million  for 
the fourth quarter.

Net income attributable to Seadrill  Partners Members was US$20.6 million  for 
the first quarter compared to $20.9 million for the fourth quarter.

Distributable cash flow was US$18.0 million for Seadrill Partners' first  full 
quarter since its initial public offering. This represents a coverage ratio of
1.13 times the minimum quarterly distribution.

Distribution for the  period of US$0.3875  per unit, equivalent  to an  annual 
distribution of US$1.55, which  is the minimum  quarterly distribution as  set 
forth in the Company's IPO prospectus. 


During the first quarter,  Seadrill Partners had an  interest in four rigs  in 
operation.  The  fleet  is  comprised  of  two  semi-submersible  rigs,   one 
drillship, and one  tender rig  operating in Canada,  the US  Gulf of  Mexico, 
Nigeria, and  Angola  respectively.  During the  quarter  the  West  Aquarius 
commenced  drilling  operations  following  its  transit  to  Eastern  Canada. 
Subsequent to the close of the first quarter the T-15 Tender Rig was added  to 
the fleet as discussed further below. 

The Company's rigs performed well during the first full quarter following  the 
IPO, achieving economic utilization rates of 96% on average. Additionally, as
of March 31,  2013, all rigs  were operating at  full dayrate. The  additional 
contract revenues in the first quarter compared to the prior quarter is partly
due to the West  Aquarius rig commencing operations,  as it was mobilizing  to 
Eastern Canada during the fourth quarter.

Operating expenses for  the first  quarter were US$95.3  million, compared  to 
US$108.9 million in the fourth quarter. The decline in operating expenses can
be attributed to a decrease in reimbursable mobilization expenses relating  to 
the West Aquarius rig.


On May 17, 2013 Seadrill Partners  completed the acquisition of the  companies 
that own and operate  the tender rig T-15  from Seadrill Limited  ("Seadrill") 
for a total purchase price of US$210 million.

The T-15 is contracted for a five-year  period with Chevron in Thailand at  an 
initial contract  dayrate of  US$115,000, which  is subject  to escalation  to 
cover cost increases. The  rig is currently  undergoing acceptance testing  in 
Singapore prior to mobilizing to its  drilling location, which is expected  to 
occur by mid-June.  The rig is  currently earning a  standby dayrate until  it 
arrives in Thailand and commences operations.

Seadrill Partners management  believes that  the acquisition  is accretive  to 
unitholders and has  recommended that the  Board consider an  increase in  the 
quarterly cash distribution of between US$0.0275 and US$0.0325, an approximate
8% increase (annualized increase of between  $0.11 and $0.13 from the  current 
annualized distribution rate  of $1.55  per common unit),  which would  become 
effective for the  distribution with respect  to the quarter  ending June  30, 
2013. Any such  increase would be  conditioned upon, among  other things,  the 
approval of such increase by the Board and the absence of any material adverse
developments that would make such an increase inadvisable.

Financing and Liquidity

As of  March  31, 2013,  the  Company had  cash  and cash  equivalents,  on  a 
consolidated basis,  of US$20.0  million and  a revolving  credit facility  of 
US$300 million provided  by Seadrill  as the lender.  As of  March 31,  2013, 
US$90.3 million  was drawn  on  this facility  to finance  short-term  working 
capital needs and to help manage the Company's debt amortization requirements.
Total debt excluding the drawn revolver balance was US$1,102.2 million as  of 
March 31, 2013. This debt was originally incurred by Seadrill, as borrower, in
connection with its acquisition of the drilling rigs. In connection with  the 
Company's IPO, subsidiaries within  the Seadrill Partners  group that own  the 
drilling rigs entered into  agreements with Seadrill,  pursuant to which  each 
rig owning subsidiary will make payments of principal and interest directly to
Seadrill. These  loan  agreements with  Seadrill  Limited are  classified  as 
related party transactions.

Prior to the  acquisition of the  T-15, the Company  had three secured  credit 
facilities, one  of  which matures  in  June  2014. The  Company  expects  to 
refinance this facility  ahead of  its expiration  either in  the secured  rig 
finance market or with a bond issuance in order to achieve the most  effective 
capital structure.  The remaining  two  facilities expire  in 2015  and  2016 
respectively and a similar refinancing strategy should be expected. The Board
is confident that the  facilities can be refinanced  at attractive terms  with 
improved repayment profiles.

In conjunction with the  acquisition of the T-15,  the Company assumed  US$210 
million in additional  debt. US$110 million  of which is  a vendor loan  from 
Seadrill Limited with a three year term at an interest rate of Libor plus  5%. 
The Company expects to refinance this loan prior to maturity. The  remaining 
US$100 million  of debt  was assumed  by the  Company under  a secured  credit 
facility expiring  in 2017,  this facility  is also  provided by  Seadrill  in 
connection with a loan  agreement originally entered into  by Seadrill with  a 
syndicate of banks, and will be classified as a related party balance.

As of March 31, 2013, Seadrill Partners had interest rate swaps outstanding on
principal debt of US$1,095.1 million. All of the interest rate swap agreements
were  entered  into  subsequent  to   the  IPO  Closing  Date  and   represent 
approximately 92%  of debt  obligations  as of  March  31, 2013.  The  average 
swapped rate, excluding  bank margins, is  approximately 1.16%. Subsequent  to 
the quarter  end  Seadrill Partners  entered  into a  further  US$100  million 
interest rate swap in connection with the acquisition of T-15.


The fundamental  outlook  for  the  oil and  gas  industry  remains  positive. 
Continued  exploration  successes  and  a  backlog  of  development  drilling 
programs continue to  provide a  line of sight  to continued  strength in  the 
contract drilling industry for the foreseeable future. 

On the demand  side, customers  continue to have  active drilling  plans in  a 
constructive commodity price  environment. Most newbuild  floaters with  2013 
delivery dates  have  been  contracted. Dayrates  have  stabilized  at  fourth 
quarter 2012  levels with  the most  recent contracted  dayrates ranging  from 
US$550,000-US$650,000.  Seadrill   Partner's  ultra-deepwater   rigs   current 
dayrates range from US$487,000 per day to US$552,000 per day. As of March 31,
2013 Seadrill Partners total fleet's  average remaining contract term was  3.7 
years and as of the end of May, having acquired the T-15, the average term  is 
3.8 years. Given the Company's expectation of continued strength in dayrates,
it is possible that the Company's below market contracts will be re-contracted
at higher rates as their contracts  expire. This may create the potential  for 
increased distribution from existing assets.


The Board is pleased  to have completed  Seadrill Partners first  acquisition, 
the tender barge T-15.
This is one of the  two rigs that the Company  had an option to acquire  under 
the terms of the omnibus agreement entered into with Seadrill at the IPO.  The 
second rig is also a tender barge (T-16) contracted to Chevron for a five year
period. The T-16 is expected to be  delivered from the yard in June 2013  and 
to complete its acceptance testing by the end of July 2013.

Pursuant to the  omnibus agreement  with Seadrill, Seadrill  Partners has  the 
right to acquire  from Seadrill Limited  any drilling rig  that enters into  a 
contract with a firm term of five years or more. Following the closing of  the 
IPO, Seadrill has entered into two contracts with a firm term of five years or
more for the West Mira and the West Leo. Seadrill also has a significant fleet
of existing ultra-deepwater rigs, some of them on long-term contracts, as well
as a new build program with four  ultra-deepwater rigs on order that have  yet 
to secure a contract. There is therefore a unique opportunity for high  growth 
via further asset dropdowns.  The Board is  confident about Seadrill  Partners 
ability to be able to grow its future earnings and distributions and be one of
the fastest growing MLP's in the years to come.

Seadrill Partners' rigs operated well during the first quarter with an average
economic utilization of 96%. The second quarter will be positively impacted by
the cash contribution of T-15. However, the West Capricorn is expected to have
a total of 20 days downtime during the quarter which will reduce  consolidated 
operating result by approximately US$9.7  million, of which US$4.8 million  is 
attributable to non-controlling interests. Results for the second quarter are
otherwise  expected  to  confirm  good  operational  performance,   supporting 
distributable cash flow. The orderbacklog for the Company is currently US$2.5
billion which may grow further as a function of specific discussions  relating 
to the extension of existing contracts.

May 28, 2013
The Board of Directors
Seadrill Partners LLC
London, UK.

Questions should be directed to:
Graham Robjohns: Chief Executive Officer
Rune Magnus Lundetrae: Chief Financial Officer



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information contained therein.

Source: Seadrill Partners LLC via Thomson Reuters ONE
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