5d 1m 3m 1y 5y 10y
There are 6 articles on this stock available only to PRO subscribers.
SDLP vs. ETF Alternatives
Tuesday, Mar 114:59 PM
Tuesday, Mar 114:59 PM| 1 Comment
- Seadrill Partners (SDLP) agrees to acquire the West Auriga ultra-deepwater drillship from Seadrill (SDRL) for ~$797M.
- The drillship is expected to carry out operations in the Gulf of Mexico until the end of its contract in Oct. 2020 at a dayrate of $565K/day.
- SDLP will recommend an increase in cash distributions of $0.13-$0.15/unit, which would take effect in the June 2014 quarter.
- SDLP plans a public offering of 10.4M common units to fund the transaction; SDRL has committed to purchase at least $50M worth of the units at the public offering price.
- SDRL +0.9%, SDLP -2.4% AH.
Wednesday, Feb 1212:23 PM
Wednesday, Feb 1212:23 PM| 43 Comments
- Seadrill (SDRL -3.3%) may fail to secure the sales prices and external financing required to sustain its current dividend as equity and asset values are slipping, Wells Fargo worries as it downgrades shares to Underperform from Market Perform.
- The firm says SDRL's aggressive dividend policy has never been funded solely by the operations of its high-quality fleet, but instead through the sale of equity and convertible debt, equity in sponsored entities such as North Atlantic Drilling (NADL -1.3%) and Seadrill Partners (SDLP -1.5%), and the outright sale of rigs.
- The dividends of other drillers, including Ensco (ESV -0.9%), Noble (NE -0.2%), Transocean (RIG -0.2%) and Diamond Offshore (DO -0.2%), look safer for now, the firm says.
Monday, Dec 22013, 4:51 PM
Monday, Dec 22013, 4:51 PM| 5 Comments
- Seadrill Partners (SDLP) -3.3% AH after announcing a public offering of 12.9M common units; also, in a private placement, Seadrill (SDRL) will purchase $50M in units at public offering price.
- SDLP plans to use the net proceeds to fund its portion of the cash purchase price in connection with its acquisition of two semi-submersible drilling rigs.
Wednesday, Sep 42013, 10:48 AM
Wednesday, Sep 42013, 10:48 AM| Comment!
- Oppenheimer restarts coverage of energy MLPs, bullish on the asset class as a whole; the firm shows a bias in favor of investing in higher distribution growth, even if the yields are lower, and for owning general partners due to their incentive distribution rights structure.
- Started at Outperform: EQT Midstream (EQM +2.1%), Seadrill Partners (SDLP +0.7%), Tesoro Logistics (TLLP +1.6%), Memorial Production Partners (MEMP +2.4%), Western Gas Partners (WES +0.4%), Western Gas Equity Partners (WGP +0.7%).
- Started at Market Perform: Williams Partners (WPZ), Crosstex Energy (XTEX), ONEOK Partners (OKS), Genesis Energy (GEL).
- Also: New Source Energy (NSLP), Breitbrun Energy Partners (BBEP), LRR Energy (LRE), Mid-Con Energy Partners (MCEP).
- View all 1 replies
SeekingAlphaReader:: Not really? SDLP is small by market cap and rig count, and each future rig dropped down from SDRL will dramatically increase earnings.