Good positive article on SeaDrill Ltd. I agree that SDRL has very low risk of cutting their dividend. That will only happen if crude oil prices fall back for a prolonged period of time. They have a modern fleet that gets high dayrates.
http://seekingalpha.com/article/2020261 ... urce=yahoo
SDRL for high yield
SDRL for high yield
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: SDRL for high yield
SeaDrill Ltd. (SDRL): An updated Net Income & Cash Flow Forecast model has been posted under the Watch List Tab.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: SDRL for high yield
watch out!
Seadrill down again in Oslo today!
http://norma.netfonds.no/ppaper.php?paper=SDRL.OSE
however, there is no specific news that I could find...
cheers - Laurin
Seadrill down again in Oslo today!
http://norma.netfonds.no/ppaper.php?paper=SDRL.OSE
however, there is no specific news that I could find...
cheers - Laurin
Re: SDRL for high yield
maybe a delayed reaction to this (?) :
Rig Firm Songa Offshore Misses Forecast with 4Q Loss
OSLO, Feb 17 (Reuters) – Oslo-listed rig firm Songa Offshore said its troubled rig development project Cat D remained on track despite recent setbacks, as it reported fourth-quarter results that lagged expectations on Monday. The firm had to seek refinancing during the fourth quarter in order to continue with its Cat D project, the development of four tailor-made rigs for oil firm Statoil for working at Norwegian offshore oil and gas fields. The flagship project became more expensive than planned and threatened to push its debts beyond sustainable levels. "The company has during the quarter completed a comprehensive refinancing to prepare for the delivery of the Cat D building in 2014 and 2015," Chief Executive Bjoernar Iversen said in a statement. The firm reported a net loss of $137 million, against expectations for a profit for $19 million according to the mean average in a Reuters poll of analysts, compared with a loss of $219 million at the same time a year ago. Rig operators and other suppliers have suffered from tightening capital spending from oil companies, which are trying to boost margins and maintain dividends. Songa, which operates five rigs all under long-term contract with Statoil off Norway, said it expected the market off Norway to remain tight, with increasing demand and limited arrivals of new rigs. Shares in Songa Offshore were down 1.14 percent at the opening of the Oslo bourse, lagging a benchmark index up 0.32 percent. (Reporting by Gwladys Fouche, Editing by Terje Solsvik and Mark Potter) - See more at: http://www.rigzone.com/news/oil_gas/a/1 ... xdWQo.dpuf
Rig Firm Songa Offshore Misses Forecast with 4Q Loss
OSLO, Feb 17 (Reuters) – Oslo-listed rig firm Songa Offshore said its troubled rig development project Cat D remained on track despite recent setbacks, as it reported fourth-quarter results that lagged expectations on Monday. The firm had to seek refinancing during the fourth quarter in order to continue with its Cat D project, the development of four tailor-made rigs for oil firm Statoil for working at Norwegian offshore oil and gas fields. The flagship project became more expensive than planned and threatened to push its debts beyond sustainable levels. "The company has during the quarter completed a comprehensive refinancing to prepare for the delivery of the Cat D building in 2014 and 2015," Chief Executive Bjoernar Iversen said in a statement. The firm reported a net loss of $137 million, against expectations for a profit for $19 million according to the mean average in a Reuters poll of analysts, compared with a loss of $219 million at the same time a year ago. Rig operators and other suppliers have suffered from tightening capital spending from oil companies, which are trying to boost margins and maintain dividends. Songa, which operates five rigs all under long-term contract with Statoil off Norway, said it expected the market off Norway to remain tight, with increasing demand and limited arrivals of new rigs. Shares in Songa Offshore were down 1.14 percent at the opening of the Oslo bourse, lagging a benchmark index up 0.32 percent. (Reporting by Gwladys Fouche, Editing by Terje Solsvik and Mark Potter) - See more at: http://www.rigzone.com/news/oil_gas/a/1 ... xdWQo.dpuf
Re: SDRL for high yield
OSLO, Feb 18 (Reuters) - Seadrill, the world's biggest offshore driller by market value, will rent out five of its jack-up rigs to Mexican oil firm Pemex with expected revenues of more than $1.8 billion over a six-year period, the Oslo listed firm said on Tuesday.
The rig company will also establish a joint venture with an investment fund controlled by Fintech Advisory Inc, which will own the rigs working for Pemex.
The new company, called SeaMex, will be owned 50 percent by Seadrill and 50 percent by the Fintech fund.
Seadrill announced in November it had signed letters of intent to rent out the five rigs, of which four have now been finalized. The deal for the fifth rig is expected to be signed in the second quarter of 2014, it said.
The rig company will also establish a joint venture with an investment fund controlled by Fintech Advisory Inc, which will own the rigs working for Pemex.
The new company, called SeaMex, will be owned 50 percent by Seadrill and 50 percent by the Fintech fund.
Seadrill announced in November it had signed letters of intent to rent out the five rigs, of which four have now been finalized. The deal for the fifth rig is expected to be signed in the second quarter of 2014, it said.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group