John Fredriksen-backed Seadrill Partners reported a slump in core first-quarter profit, following its parent's result downward.
The New York and Oslo-listed master limited partnership (MLP), a spinoff of Seadrill, logged $36.1m in profit attributable to shareholders during the quarter.
That was a 5.5% drop compared to the $38.2m in the same period of 2015.
"The offshore drilling market remains challenging," the company said, noting that recently improved oil prices are still 60% below the highs of 2014.
Operating
