On Tuesday, May 7, Seadrill (NYSE:SDRL) announced the sale of the T15 tender rig to Seadrill Partners (NYSE:SDLP) for total consideration of $210 million. Since this new rig will increase the revenues and cash flows of Seadrill Partners, this seems to be the perfect opportunity to re-analyze the company as an investment candidate. Seadrill Partners is an offshore drilling company that was formed via an equity carve-out from parent Seadrill and structured as a master limited partnership for tax purposes (although the entity is actually taxed as a corporation). I examined this company last year and determined that there is little reason for the average investor to favor Seadrill Partners over Seadrill itself. Seadrill owns 75.7%...
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|