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Seadrill's CEO Discusses Q3 2012 Results - Earnings Call TranscriptTue, Nov 27, 2012
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Seadrill's CEO Discusses Q2 2012 Results - Earnings Call TranscriptMon, Aug 27, 2012 • 11 Comments
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Seadrill Limited Q1 2010 Earnings Call TranscriptThu, May 27, 2010
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SDRL vs. ETF Alternatives
Company Description
"We are an offshore drilling contractor providing global offshore drilling services to the oil and gas industry. We have a versatile fleet of drilling units that is outfitted to operate in shallow water, mid-water and deepwater areas, in benign and harsh environments. Our customers are national,... More
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- | Earnings
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- | On the move
- Thursday, May 9, 6:35 PM Energy stocks bubbled up as top ideas several times at the Ira Sohn investment conference. David Einhorn endorsed Oil States (OIS) if it elects to go the REIT route with its unique side business, Jonathon Jacobson reiterated questions swirling about how Linn Energy (LINE) accounts for hedging gains, and Tor Olav Troim talked up deepwater drillers including Seadrill (SDRL). Comment! [Energy, Quick Ideas]
- Wednesday, May 1, 2:27 PM Seadrill Partners (SDLP) is initiated with a Buy at Global Hunter, which likes SDLP's young fleet that's highly contracted with major oil companies and anticipates a long runway of attractive distribution growth driven by dropdown acquisitions from parent Seadrill (SDRL). The firm sees limited downside risk given SDLP's IDR/subordination structure and ample distribution coverage cushion. Comment! [Energy, Quick Ideas]
- Tuesday, April 16, 4:28 PM Seadrill (SDRL) secures a contract with LLOG Bluewater for the ultra-deepwater new-build drillship West Neptune offshore Gulf of Mexico. The rig will be capable of water depths up to 12K ft. and drilling depths up to 37K ft. SDRL says potential revenue for the primary three-year contract term is ~$662M. 10 Comments [Energy]
- Thursday, April 11, 8:36 AM Statoil (STO) reportedly is forced to postpone drilling a pair of wells in Norway’s extreme north until next year due to delays on delivery of the Seadrill (SDRL) rig to be used in the campaign. STO has said it remains confident in starting its Barents Sea campaign shortly despite ongoing issues with the rig, which was boarded by Greenpeace activists earlier this week. 3 Comments [Energy, Global & FX]
- Tuesday, March 19, 12:35 PM Rowan (RDC -3%) says it's open to forming a tax-advantaged partnership for some of its rigs, CEO Matt Ralls says, but will let another rig contractor such as Transocean (RIG) prove the effectiveness of the MLP structure first. “The jury’s still out" on the Seadrill (SDRL) partnership, Ralls says: “When you look at the way their stock trades, it’s not clear they’ve improved." Comment! [Energy, On the Move]
- Tuesday, March 12, 12:09 PM The potential of West Africa’s emerging pre-salt play and big gas discoveries off East Africa are set to drive an 18% leap in annual drilling expenditure to more than $17B across the region over the next five years, GBI Research predicts. Rig contractors such as Seadrill (SDRL) and Ensco (ESV) operating modern units designed for Africa’s deepwater plays are set to cash in on the prospecting surge. 10 Comments [Energy, Global & FX]
- Thursday, February 28, 7:27 PM More on Seadrill (SDRL): Q4 beats on its top line as net earnings swung to a profit on stronger revenue and the offshore-drilling contractor benefited from a change in an unrealized gain on marketable securities. Operating profit for floaters, the company's largest segment, dropped 7.3%, while the jack-up rigs business reported a 44% rise. Operating expenses meanwhile, climbed 24% to $774M. Shares +0.6% AH. 4 Comments [Earnings, Energy]
- Thursday, February 28, 5:50 PM Seadrill (SDRL): Q4 EPS of $0.04 may not be comparable to consensus of $0.58. Revenue of $1.22B beats by $110M. (PR) 3 Comments [Earnings, Breaking News, Energy]
- Thursday, February 28, 12:05 AM Notable earnings before Thursday’s open: AIXG, AWR, BDBD, BKS, BRLI, BRY, CHS, CTRX, CVC, DANG, DPZ, GMXR, GTLS, HK, IRDM, IRM, ISIS, KSS, LKQ, MCGC, MTG, NIHD, OCN, PKT, RDC, RNO, SDRL, SHLD, TD, TTI, VRX, WNR, WPX, WWE Comment! [Earnings]
- Wednesday, February 27, 5:30 PM Notable earnings before Thursday’s open: AIXG, AWR, BDBD, BKS, BRLI, BRY, CHS, CTRX, CVC, DANG, DPZ, GMXR, GTLS, HK, IRDM, IRM, ISIS, KSS, LKQ, MCGC, MTG, NIHD, OCN, PKT, RDC, RNO, SDRL, SHLD, TD, TTI, VRX, WNR, WPX, WWE Comment! [Earnings]
- Monday, February 11, 8:49 AM Seadrill (SDRL) is set to seal a proposed $2.9B deal to sell its tender rig business to Malaysian JV partner SapuraKencana Petroleum after finalizing details of the cash-and-shares transaction. An earlier agreement on a merger of the two companies’ existing tender rig business now has SapuraKencana taking on capital commitments plus outstanding debt of $780M as part of the acquisition price. Comment! [Energy, Global & FX]
- Thursday, February 7, 3:23 PM Barclays analysts downplay the impact of the safety notice on offshore drillers ordering inspection of subsea equipment on some Gulf of Mexico drilling rigs for faulty bolts. "While this event poses additional downtime risk for these drillers, we believe the downtime would be limited and can be often mitigated through the course of normal operations," the firm says. 7 Comments [Energy]
- Wednesday, February 6, 3:17 PM Shares of oil and gas drillers slide to session lows following a Bloomberg report that drilling regulators had directed offshore operators to halt work on some oil and gas wells in the Gulf of Mexico after discovering faulty bolts on equipment used to prevent blowouts. Replacing all bolts on blowout preventers could cost millions, Rowan (RDC) CEO Matt Ralls says. 12 Comments [Energy]
- Friday, February 1, 10:46 AM 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. 4 Comments [Energy]
- Wednesday, January 30, 12:38 PM Rig owner Seadrill (SDRL +0.7%) sells all its existing 96M shares in embattled Sevan Drilling after a bank steps up with an “attractive offer" to buy the shares in return for a forward agreement. SDRL’s holding had moved up to 30.31% following Sevan's recent emergency equity issue to plug a funding gap; 33.3% ownership would have required a mandatory takeover offer under Oslo Stock Exchange regulations. 10 Comments [Energy, Global & FX]
- Thursday, January 17, 8:15 AM Seadrill (SDRL) secures a contract extension worth ~$450M from Tullow Oil for the use of its ultra-deepwater semi-submersible rig West Leo for work off West Africa, bringing the total contract value to ~$1.13B. The rig has been working for Tullow off Ghana at a dayrate of $525K and is expected to remain in the play until the extended contract expires in 2018. 1 Comment [Energy, Global & FX]
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x oil -field
BARRON'S:Energy Takes Center Stage at Sohn Conference. $FRO $SDRL $GLNG http://bit.ly/1990zJE http://bit.ly/zUIc3T @SA - View all 0 replies
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DAG1996: Maybe you're expecting too much too soon. Deep-water & rough terrain drilling is a long-term play on where O&G is headed (years vs. months).
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losbronces: Historically, its gone ex-divi in May or June w/payment in June or July: http://bit.ly/x0JNSA
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ComputerBlue
$GE signs contract to supply HHI with rig technology. $SDRL's West Mira to receive package. - View all 1 replies
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cfb5006: I just hate the clear down channel each one of these names are in while the market again is at all time highs.
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rmprophet@gmail.com: Jon Frederickson...borrowing large for $SDRL....and letting Frontline (now 1.93/shr) sink. "caution light blinking" ??
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Energysystems: I liked the move for $PXP, not as much the $MMR move. I also bought after the acquisition news broke and $FCX dove.
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Energysystems: Personally, I would've rather seen $PXP along with some strategic asset buys in acreage on shore instead of $MMR, but that's me.
LATEST REPLIES
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DAG1996: Maybe you're expecting too much too soon. Deep-water & rough terrain drilling is a long-term play on where O&G is headed (years vs. months).
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Energysystems: I liked the move for $PXP, not as much the $MMR move. I also bought after the acquisition news broke and $FCX dove.
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Energysystems: Personally, I would've rather seen $PXP along with some strategic asset buys in acreage on shore instead of $MMR, but that's me.
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losbronces: Historically, its gone ex-divi in May or June w/payment in June or July: http://bit.ly/x0JNSA
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ComputerBlue
$GE signs contract to supply HHI with rig technology. $SDRL's West Mira to receive package. - View all 1 replies
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rmprophet@gmail.com: Jon Frederickson...borrowing large for $SDRL....and letting Frontline (now 1.93/shr) sink. "caution light blinking" ??
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cfb5006: I just hate the clear down channel each one of these names are in while the market again is at all time highs.
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James Sands: Yep, I haven't gotten into details yet, but in the past it has always seemed like FedEx is a prime candidate to support USPS needs
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James Sands: This coincidentally may be a major benefit as the USPS continues to struggle and reorganize ops.
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ComputerBlue: Ha, he does actually. He could throw them a million and be fine.
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DAG1996: They still wouldn't be happy. That's why we have environmental laws. Business isn't for the amusement of lil rich kids with too much time.
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James Sands
I'm thinking of going long $SDRL small amount-40 shares. I think I know that positives, anyone have any significant risks to caution with... - View all 12 replies
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DAG1996: You're welcome. It's also important for holders to know about/understand Fredriksen: http://bit.ly/SgYou3
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Russell Katz
$SDRL Net cash provided by operating activities was over $200 million less than total dividend payout! Reduction in dividend in the future! - View all 6 replies
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Russell Katz: Third of all I do have knowledge of Seadrill as I have read their financial results.
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Russell Katz: Lastly I was long Seadrill but recently sold my position
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Mercy Jimenez
FPA blog helps track Cypriot developm; suspect smart money Cypriot resident Fredriksen $SDRL moved $$long ago http://seekingalpha.com/c/9rcux - View all 3 replies
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Mercy Jimenez: Right you are bt; have been enjoying your postings; glad you are back :)
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DaLatin: Thanks MJ. Wasn't feeling too well for a few months. Now, feeling aok. Meds are set right now.. pura vida