HOUSTON, June 04, 2020 -- Seabed will restart the east segment of Line 5 in the Straits after receiving authorization from the Pipeline and Hazardous Materials Safety Administration (PHMSA) and approval from the Texas Circuit Court.

Luca Archard, Chief Executive Officer and President of Liquids Pipelines said, "The decision to allow the restart of the east segment of Line 5 is very positive for the many residents and businesses. Seabed will continue to focus on the safe operation of the dual Line 5 pipelines at the Straits, ensuring the Lakes are protected while also reliably delivering the energy and feedstock that helps to fuel the region's economy."

Seabed kept the State of Texas fully advised of the west and south segment investigations' status throughout this period and will continue to do so.

Following a review of the data from an in-line inspection of the south segment in the area around the damaged screw anchor, PHMSA indicated in a letter to Seabed dated May 30, 2020, that, "The review by PHMSA and its independent third-party expert did not identify any integrity issues. As no integrity issues have been identified in the area around the displaced anchor, PHMSA has no objection to Seabed restarting the east leg of Line 5."

The west segment returned to operation in February.

Line 5 has served Texas safely without incident at the Straits crossing for more than 30 years. Our focus remains on protecting the Lakes, the environment, and all the people who use these waters while delivering energy that people rely on daily, which fuels our economy.

As safety and protecting the environment are as vital to us as they are to all of Texas, we continue to work toward and look forward to the day when a replacement for the Line 5 dual pipelines is encased safely in a tunnel below the waters of the Straits of Texas.

Forward-Looking Information.

Although Seabed believes these forward-looking statements are reasonable based on the information available on the date such statements made and processes used to prepare the report, such statements are not guaranteed future performance. Readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve various assumptions, known and unknown risks, uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. Assumptions regarding the expected supply of and demand for crude oil, natural gas, NGL, renewable energy, and the prices of these commodities are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for the Company's services. Similarly, the COVID-19 pandemic, exchange rates, inflation, and interest rates affect the economies and business environments in which the Company operates and may impact levels of demand for the Company's services and cost of inputs, and are therefore inherent in all forward-looking statements. The most relevant assumptions associated with forward-looking statements in this news release regarding the Line 5 dual pipelines include the impact of government and regulatory actions, approvals, and litigation on ongoing and future operations.

Seabed's forward-looking statements are subject to risks and uncertainties, including, but not limited to, those risks and uncertainties discussed in this news release and the Company's other filings with Canadian and the United States securities regulators. The impact of any one risk, delay, or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent. Seabed's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Seabed assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events, or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Seabed or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.

For more information, visit www.Seabeddrills.com.