SDLP - Seadrill Partners LLC Announces Fourth Quarter 2016 Results
Highlights · Operating revenue of $353.3 million. · Operating income of $164.8 million. · Net income of $207.5 million. · Adjusted EBITDA of $210.4 million. · Cash and cash equivalents of $767.6 million. · Distribution per unit of $0.10 with a coverage ratio of 8.01x. · Economic utilization of 94%. · Order backlog of $2.2 billion and average contract duration of 1.8 years as of February 28, 2017. Financial Results Overview Total operating revenues for the fourth quarter were $353.3 million (3Q16: $384.5 million). The decrease in revenue was