The potential of West Africa’s emerging pre-salt play and big gas discoveries off East...

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KenNagle Comments (265)
 
Ever since the double dividend SDRL can't seem to get any traction despite mostly good news on backlog and new rigs coming online.
12 Mar, 12:14 PM Reply Like

wigit5 Comments (2462)
 
Agreed, I think it's a lot of issues but debt, oil price volatility, and day rates for rigs... also SDRL does a lot of funny stuff strategically selling assets and stuff to subsidiaries which probably muddles the water for folks.
12 Mar, 12:16 PM Reply Like

Energysystems Comments (389)
 
I agree Wigit. People need to immerse themselves in the info in order to understand it. I see no problem if SDRL spins off 6-8 rigs in an MLP(for example) and the parent co still holds 60-70%+ of the MLP.
12 Mar, 04:27 PM Reply Like

tom1119 Comments (23)
 
Anyone know when SDRL is expected to announce their next divy? Traditionally, they are overdue. The last 2 years, they went ex-divy on 3/2/10 and 3/8/11.
12 Mar, 12:47 PM Reply Like

wigit5 Comments (2462)
 
tom the 1st quarters dividend was paid in December to avoid tax rate hikes, we wont see another dividend till 2Q

if I understand it all correctly that is
12 Mar, 01:08 PM Reply Like

Arthur Fisher Comments (64)
 
Is that 18% annually or 18% over five years?
12 Mar, 12:55 PM Reply Like

Herr Hansa Comments (2916)
 
I tend to agree with the premise, at least over the next five years. The problem is that rig utilization is very high at the moment. In order to meet a future need, more newbuilding rigs will need to come on line over the next five years. While I like Seadrill (SDRL), I don't feel they are better positioned than other rig operators for upcoming projects in Africa.
12 Mar, 02:30 PM Reply Like

5bandit5 Comments (223)
 
Wigit5

You are right .
12 Mar, 02:37 PM Reply Like

CaptKorn Comments (95)
 
Herr Hansa they are better positioned because there fleet is the second newest deep water and harsh environment fleet. By the way what are your thoughts on the shipping sector? That may be where the big money will be made as the glut is overcome.
12 Mar, 03:11 PM Reply Like

Herr Hansa Comments (2916)
 
Newer rigs command higher rates, but not all projects want to use the most expensive rigs. Don't get me wong, Seadrill is a great and well run company, with a great track record. The recent change in the semi-sub game is rigs being built in China. A price war would not be good for the rig players.

I'm still looking into shipping. 2012 was a record for demolition. I can hope for a turn-around, if for no other reason than to see my worst performer improve (FRO).
12 Mar, 03:27 PM Reply Like