Sevan Drilling (OTCPK:SDRNF) is a pre play ultra deepwater drilling company headquartered in Norway. In the last two months, the stock has surged by nearly 30% amidst several positive developments for the company. This article will discuss the positive developments, its implications on the future revenue growth and the reasons for believing that the stock has further upside. The conclusion is a "Strong Buy" with a potential upside of 35% in one year.
Sevan Drilling is an offshore drilling contractor specializing in the ultra deepwater segment. As of second quarter of 2013, Sevan Drilling had two ultra deepwater units (Sevan Driller and Sevan Brasil) operating in Brazil. The two operating units are currently under...
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