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Seadrill (SDRL -1.3%) raises estimates for downtime for deepwater rigs in operation during Q4 to...

Seadrill (SDRL -1.3%) raises estimates for downtime for deepwater rigs in operation during Q4 to ~100 days from a prior 41 days, due to BOP issues on several of its rigs. Q1 2013 results will be impacted by the West Hercules taking longer than expected to begin its next assignment. Also, SDRL orders construction of two jack-up drilling rigs with Dalian Shipbuilding for ~$230M.
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Comments (4)
  • Power Hedge
    , contributor
    Comments (1040) | Send Message
     
    That's also the worst downtime record that I can remember for SDRL. I'll see what I can find out about this... BOP issues have been plaguing the whole industry since 2010, so SDRL isn't the only company suffering from this.
    1 Feb 2013, 10:48 AM Reply Like
  • pumbaas
    , contributor
    Comments (2) | Send Message
     
    ya,well it's the only company I have stock in.
    3 Feb 2013, 05:47 PM Reply Like
  • Crusader XXI
    , contributor
    Comments (7) | Send Message
     
    Long investor in SDRL for the excelllent yield. What is BOP?
    5 Feb 2013, 10:13 AM Reply Like
  • Complete n00b
    , contributor
    Comments (5) | Send Message
     
    BOP = Blow Out Preventer
    7 Feb 2013, 02:29 AM Reply Like
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