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Seadrill Limited (SDRL) is an offshore drilling contractor.
The firm provides offshore drilling services to the oil and gas industry worldwide. The company operates in three segments: Floaters, Jack-up Rigs, and Tender Rigs.
The Floaters segment offers services, such as drilling, completion, and maintenance of offshore exploration and production wells under contracts relating to semi-submersible rigs and drillships for harsh and benign environments in mid, deep, and ultra-deep waters.
The Jack-up Rigs segment provides services, including drilling, completion, and maintenance of offshore exploration and production wells under contracts relating to jack-up rigs for operations in harsh and benign environment.
The Tender Rigs segment operates self-erecting tender barges and semi-submersible tender rigs, which are used for production drilling and well maintenance in Southeast Asia and West Africa.
As of December 31, 2013, the company had a fleet of 69 units consisting of 15 semi-submersible rigs, 7 drillships, 20 jack-up rigs, 3 tender rigs, and 24 units under construction. Its customers include oil and gas exploration and production companies, including integrated oil companies, independent oil and gas producers, and government-owned oil and gas companies. Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that the stock pays a hefty dividend of 10%.
52-Week Trading Range: $32.40 - $48.09
Entry Point: $40.35
Stop Loss: $38.30
Target Price: $44.40
SDRL fell below our stop loss after the firm filed to sell stock and bonds. Closed at $38.00
