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.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Norwegian oil investments look set for big slide in 2016
For subscribers
Seadrill pushes delivery of new rigs and vessels
For subscribers
Seadrill cancels delayed rig from South Korean shipyard
For subscribers
