London-based Seadrill Partners has emerged from Chapter 11 restructuring with no debt as existing shareholders were wiped out.
The US-listed drillship owner, which was formerly backed by John Fredriksen, converted interest-bearing debt of $2.8bn into shares in the successful US court process.
The spin-off from parent Seadrill had filed for Chapter 11 in December last year, with Seadrill itself following in February.
