Our primary business objective is to increase the quarterly cash distributions to our unit holders. We intend to accomplish this objective by executing the following strategies:
- Grow through strategic and accretive acquisitions
We intend to capitalize on opportunities to grow OPCO's and our fleet of drilling rigs through acquisitions of offshore drilling rigs from Seadrill, either by us or by OPCO, and acquisitions of offshore drilling rigs from third parties. We will have opportunities, pursuant to the omnibus agreement, to acquire additional interests in OPCO, to acquire certain of Seadrill's other drilling rigs with drilling contracts of five or more years.
- Pursue long-term contracts and maintain stable cash flow
We and OPCO will seek to maintain stable cash flows by continuing to pursue long-term contracts and focusing on minimizing operating downtime.
- Provide excellent customer service and continue to prioritize safety as a key element of our operations
We believe that Seadrill has developed a reputation as a preferred offshore drilling contractor and that we can capitalize on this reputation by continuing to provide excellent customer service. We seek to deliver exceptional performance to our customers by consistently meeting or exceeding their expectations for operational performance, including by maintaining high safety standards and minimizing downtime.
- Maintain a modern and reliable fleet
OPCO has one of the youngest and most technologically advanced fleets in the industry, and plans to maintain a modern and reliable fleet. We can provide no assurance, however, that we will be able to implement our business strategies described above.
We believe we are well positioned to achieve our primary business objectives and execute our business strategies based on the following competitive strengths:
- Relationship with Seadrill
We believe Seadrill will facilitate our acquisition and growth strategy, and we also expect to benefit from Seadrill's operational expertise and relationships with suppliers and shipyards.
- Modern, technologically advanced fleet
We believe that OPCO has one of the most modern, technologically advanced and efficient fleets in the offshore drilling industry, which enables customers to drill wells more efficiently and more reliably than older drilling rigs.