Seadrill (SDRL) -1.5% premarket after reducing its stake in Malaysian partner SapuraKencana...


Seadrill (SDRL) -1.5% premarket after reducing its stake in Malaysian partner SapuraKencana Petroleum, selling 300M shares for ~$200M. Following the transaction, SDRL will continue to hold 319.5M shares in SapuraKencana, or a 6.4% stake.

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Comments (4)
  • CaptKorn
    , contributor
    Comments (154) | Send Message
     
    Buying op?
    30 May 2012, 09:12 AM Reply Like
  • Energysystems
    , contributor
    Comments (2067) | Send Message
     
    Getting close. Wouldn't be suprised to see it go to 30, especially with how the oil market has been as of late.
    30 May 2012, 11:14 AM Reply Like
  • KenNagle
    , contributor
    Comments (291) | Send Message
     
    I follow SDRL fairly closely and yet I don't grasp the market's pricing. Dividend is great and all indications are it is sustainable and growing. Revenue base appears to be locked in for 2-- 3 years and growing.
    It is the best in class off shore driller. Profits not tied to short-term swing in price of oil. What am I missing on why the stock is dropping?
    30 May 2012, 01:03 PM Reply Like
  • Energysystems
    , contributor
    Comments (2067) | Send Message
     
    Nothing. It swings up and down in lockstep with oil. I have a long position in my IRA, and a position I trade on oil. Oil low=SDRL from 25-30. Oil high=SDRL from 35-40.

     

    Great fundamentals. Definitely best of breed.
    30 May 2012, 02:33 PM Reply Like
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