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MisterEC

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MisterEC

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Re: None

Thursday, 02/23/2017 2:30:48 PM

Thursday, February 23, 2017 2:30:48 PM

Post# of 2606
Seadrill: The End Appears Near
Seadrill: The End Appears Near

SDRL reports quarterly earnings Thursday.

Revenue is expected to decline Q/Q by double digits. EBITDA margins will likely break support in the first half of 2017.

Current portion of long-term debt is over $3B. SDRL does not have cash to cover near-term payments.

Either SDRL will go belly up or the stock will get diluted in a restructuring. The end could be near.

Experts predict the offshore market will not rebound until 2018 or 2019. Seadrill might not have that long. First of all, it lacks liquidity. Q3 working capital of -$3.0 billion was down from -$1.3 billion in Q2. Current portion of long-term debt is now $3.1 billion; with cash of only $1.3 billion the company lacks the liquidity to make the payment.

But the billionaire, he cares, he won't let SDRL go belly up, he will save us. Bawahahaha
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