Seadrill Partners LLC. (fka SDLPQ)

[jugs]

SDLP couldn't possibly have sustained its former (25 cent) distribution program in light of recent changes in the utilization of their fleet.

Thoughts of holding $5 are unrealistic as it implies a forward distribution rate of 8%. On the surface, 8% is pretty good for an investor but it is not good for any company whose business is eroding quickly due to sector-wide shortfalls cropping up. Factor in a strong likelihood that the company will probably have to cease disteributions altogether, should the process of erosion continue as is possible, and we find a company's investment value worthy of being mothballed for now.

This is a wonderful company beset by times too challenging. No, these are times so inhospitable that this pick must be avoided immediately.