Offshore

Record-low share price shrouds Seadrill in uncertainty

The latest slide in the oil price puts severe pressure on the shares in John Fredriksen's Seadrill. In just one week, the price has dropped from USD 5.97 to USD 4.24. Analysts question whether the company can pay its covenants and project that 2016 could be a crunch point for the company.
BY CHRISTIAN BARTELS

Times are tough for the entire offshore supply chain, and this applies to the John Fredriksen-owned drilling unit Seadrill, which is hit hard on both its business and its share price. The low oil price - which on Tuesday slid below USD 40 per barrel of Brent, and continues to hover at just USD 40.85 - has allegedly made Seadrill's share drop from around USD 5.97 to USD 4.24.

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