Why Seadrill Ltd's Deal Russia Is a Huge Opportunity
Alert investors shouldn't be all that surprised that despite a weak offshore drilling market, a Seadrill Ltd ( NYSE: SDRL ) subsidiary signed a landmark deal. In this case, relatively new spin-off North Atlantic Drilling Ltd ( NYSE: NADL ) reached a large deal to work with Rosneft , a large Russian energy producer. The deal was significant enough that Vladimir Putin is raising some red flags about its long-term validity. North Atlantic Drilling is a pure-play, harsh environment firm with eight offshore rigs and a focus on the North Sea in Norway and now the Arctic Shelf aspirations of Russia. The company has a ninth rig under construction with a delivery date of 2015 and a likely destination of the Russian Arctic. The harsh environments of the Arctic are expected to contain vast amounts of energy resources, and North Atlantic Drilling happens to have a young fleet focused on the sector. Read the full article here . Discl...