About Seadrill Partners LLC

Aquadrill LLC operates as an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The company’s primary business is the ownership and operation of drillships, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in both benign and harsh environments. The company contracts its drilling units primarily on a dayrate basis to drill wells for its customers, typically oil super-majors and independent oil and gas companies. Fleet The company’s fleet is comparatively one of the youngest and modern of all the major offshore drilling contractors with an average fleet age of approximately 9.7 years. The company owns and operates a fleet of 11 drilling units, including four drillships, four semi-submersible rigs and three tender rigs. Business Strategy The company’s strategy is to protect its revenue and contract backlog by continuing to provide excellent service to its customers; pursue long-term contracts; provide excellent customer service and continue to prioritize safety as a key element of the company's operations; and maintain a modern and reliable fleet. Markets The company provides operations in oil and gas exploration and development in regions throughout the world and its customers have included major oil and gas companies, national oil companies and independent oil and gas companies. Customers For the year ended December 31, 2020, BP Plc, Reliance Petroleum Ltd., and ExxonMobil Corporation accounted for 75.8%, 8.6%, and 8.3% of the company’s total revenues, respectively. Principal Suppliers The company sources the equipment used on its drilling units from well-established suppliers, including Cameron International Corp. and National Oilwell Varco, Inc. (NOV), each of which supply blowout preventers, and with respect to NOV, top drives (the device used to turn the drillstring, which is a combination of devices that turn the drill bit), drawworks (the hoisting mechanism on a drilling unit) and other significant drilling equipment; Kongsberg Gruppen, which supplies dynamic positioning systems; Aker-MH AS, which supplies drilling software, as well as top drives and drawworks; Rolls-Royce, which supplies thrusters; and Caterpillar Inc., which supplies cranes. History The company was founded in 2012. It was incorporated in 2013. The company was formerly known as Aquadrill Partners LLC and changed its name to Aquadrill LLC in December 2021.