Friday, August 23, 2013
Seadrill Newbuild Program To Benefit From Mexico Demand
Whether directly or indirectly, the aggressive newbuild program at Seadrill (SDRL) could benefit the most from the potential opening up of Mexico to international oil service firms. While still too early to get overly excited, Merrill Lynch suggests the potential is for Mexico to add 50 onshore rigs and 20 floaters in the next two years to pull the struggling industry out of decline.
Seadrill is a leading offshore deepwater drilling expert with a fleet of drillships, jack-up rigs and semi-submersible rigs operating in Northern Europe, U.S. Gulf of Mexico, Mexico, South America, West Africa, Middle East and Southeast Asia. The company owns positions in numerous other drilling oil services firms including 75.7% of Seadrill Partners (SDLP) that alone is worth nearly $1 billion.
Read the full article on Seeking Alpha.
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