West Auriga ultra-deepwater drillship which was partially dropped down to Seadrill Partners. Source: Seadrill. 

Seadrill (NYSE:SDRL) had a busy first quarter. Not only did the company surprise analysts and investors with a strong first quarter and dividend boost, but the company also recently secured several key deals. Because of that it can be hard to keep up with all the maneuvering Seadrill and its affiliates Seadrill Partners (NYSE:SDLP) and North Atlantic Drilling (NYSE:NADL) have undergone over the past few months.

Since the start of the year, Seadrill has undertaken five transactions of strategic importance. From its initial public offering of North Atlantic Drilling to a drop down deal with Seadrill Partners, each move has been part of a greater strategy to position Seadrill for future growth.

In order to help investors better understand Seadrill's recent moves, I've created the following slideshow, which drills down into each move to help explain what Seadrill did and how it will impact investors in Seadrill as well as its affiliates, Seadrill Partners and North Atlantic Drilling.