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Re: bigdog121 post# 1317

Wednesday, 03/01/2017 11:29:18 AM

Wednesday, March 01, 2017 11:29:18 AM

Post# of 2606
The markets biggest rally in a long time!
SDRL is down. Why?
Because BK is coming. If I had gone long in the sucker, short covering rallies, I would be hurting.
I learned to snatch the pebble from the Masters hand a long time ago.
Seadrill - Another Step Towards Bankruptcy

Summary

The company reported declining revenue and operating income in the 4Q2016 earnings release on Feb. 28.

Management provided an update on the restructuring negotiations with creditors, stating the company may be forced to file Chapter 11 bankruptcy should they fail to reach an agreement.

Any new agreement with creditors will involve additional amendments to the currently proposal and a conversion of debt to equity (current common will be wiped out).
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  • 1Y
  • 5Y
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