Seadrill Ltd (SDRL)

[MisterEC]

But the sucker rally, and the loan from JF, the billionaire?
Seadrill: Don't Expect A Turnaround

More negatives to consider

Due to the weakness in the offshore drilling market, Seadrill is witnessing a consistent decline in its backlog. For instance, last quarter, the company's backlog fell by $600 million

Conclusion

Seadrill's bad times are not over yet. The company's bottom line will continue to get weaker as its backlog diminishes, while the possibility of a turnaround in the offshore drilling industry is remote. As such, investors should continue to avoid Seadrill despite better-than-expected results last quarter as it is set to face more weakness going forward.