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2014-04-25

Seadrill Partners LLC: SDLP - Seadrill Partners LLC First Quarter 2014 Cash Distribution

London, United Kingdom, April 25, 2014
- Seadrill Partners LLC (NYSE: SDLP) ("Seadrill Partners" or the "Company")
announced today that its board of directors has declared a quarterly cash
distribution with respect to the quarter ended March 31, 2014 of $0.5075 per
unit, which represents an increase of 14% from the fourth quarter of 2013.

This increase, as already announced, relates to the acquisition of the
ultra-deepwater semi-submersible units, the West Sirius and West Leo, and the
Company's management recommendation to the Board to increase the quarterly
distribution rate as a result in respect of the quarter ending March 31,
2014.

This cash distribution will be paid on May 14, 2014 to all unitholders of
record as of the close of business on May 6, 2014.

As announced in March 2014 in connection with the acquisition of the West
Auriga, the Company's management has also recommended to the Board a further
increase in the Company's quarterly cash distribution of between $0.0325 and
$0.0375 per common unit (or an annualized increase of between $0.13 and $0.15
per common unit), which would become effective for the Company's
distributions with respect to the quarter ending June 30, 2014. Any such
increase would be conditioned upon, among other things, the approval of such
increase by the Board and the absence of any material adverse developments or
potentially attractive opportunities that would make such an increase
inadvisable.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company's plans, strategies, business prospects, changes and trends in
its business and the markets in which it operates. In particular, statements
regarding projected increases in cash distributions are considered forward
looking statements. These statements are made based upon management's current
plans, expectations, assumptions and beliefs concerning future events
impacting the Company and therefore involve a number of risks, uncertainties
and assumptions that could cause actual results to differ materially from
those expressed or implied in the forward looking statements, which speak
only as of the date of this news release. Important factors that could cause
actual results to differ materially from those in the forward looking
statements include, but are not limited to the performance of the drilling
rigs in the Company's fleet, delay in payment or disputes with customers,
fluctuations in the international price of oil, changes in governmental
regulations that affect the Company or the operations of the Company's fleet,
increased competition in the offshore drilling industry, and general
economic, political and business conditions globally. Consequently, no
forward looking statement can be guaranteed. When considering these forward
looking statements, you should keep in mind the risks described from time to
time in the Company's filings with the SEC, including its Annual Report on
Form 20-F (File No. 001-35704).

The Company undertakes no obligation to update any forward looking statements
to reflect events or circumstances after the date on which such statement is
made or to reflect the occurrence of unanticipated events. New factors emerge
from time to time, and it is not possible for us to predict all of these
factors. Further, the Company cannot assess the impact of each such factor on
its business or the extent to which any factor, or combination of factors,
may cause actual results to be materially different from those contained in
any forward looking statement.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Partners LLC via Globenewswire

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