SDRLF is projected to have a 1y target price of $3.00 dollars. Crude oil is set to exceed $50 dollars per barrel in 2021 by q4. OPEC says Demand for oil & drilling is set to increase by 2 million barrels per day on top of the industry wide 25.6 million barrel a day quota for q1 of 2021 according to the EIA. EIA also forecasts that global consumption of petroleum that averaged 92.9 million b/d in 2020 will average 98.8 million b/d in 2021. Their current assets are still in the billions (so is their liabilities), but a good q1 will likely (which is likely) will push this stock back to where it should be. The P/B value of this stock indicates that is is extremely undervalued at the price of 0.31 p/share (p/b: 0.08). I am optimistic for a 2021 oil recovery, dont lose hope in this one its one of the largest drilling companies in the world. As oil prices go up drilling companies stock will go up with it. BULLISH IN OIL.
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