Seadrill (SDRL) Analysis
Company Overview:
Seadrill provides offshore contract drilling services for the oil and natural gas industry. The company achieved a record day rate of $545,000 for a one-well contract in Q1 2024, the highest in the current cycle, significantly boosting its Q2 earnings outlook.
Key Highlights:
CEO Simon Johnson: Emphasized a strong start to the year with safe, efficient operations, high day rates, and capital returns to shareholders.
Competitive Fleet: Seadrill's fleet and strong balance sheet are expected to sustain durable earnings and capital returns as the cycle progresses.
Order Backlog: Approximately $2.8 billion, including $108 million in new contracts since February.
New Contracts: $32 million contract in South Korea for the drillship West Capella and an $86 million six-month extension in the U.S. Gulf of Mexico for the drillship West Neptune.
Investment Outlook:
Bullish Outlook: We are bullish on
SDRL above the $47.00-$48.00 range.
Upside Potential: With an upside target set at $78.00-$80.00, investors should consider Seadrill's strong performance, high day rates, and substantial order backlog as key drivers for potential stock appreciation.
📈🌊 Monitor Seadrill for promising investment opportunities! #SDRL #OffshoreDrilling 🛢️🚀
Seadrill provides offshore contract drilling services for the oil and natural gas industry. The company achieved a record day rate of $545,000 for a one-well contract in Q1 2024, the highest in the current cycle, significantly boosting its Q2 earnings outlook.
Key Highlights:
CEO Simon Johnson: Emphasized a strong start to the year with safe, efficient operations, high day rates, and capital returns to shareholders.
Competitive Fleet: Seadrill's fleet and strong balance sheet are expected to sustain durable earnings and capital returns as the cycle progresses.
Order Backlog: Approximately $2.8 billion, including $108 million in new contracts since February.
New Contracts: $32 million contract in South Korea for the drillship West Capella and an $86 million six-month extension in the U.S. Gulf of Mexico for the drillship West Neptune.
Investment Outlook:
Bullish Outlook: We are bullish on
SDRL above the $47.00-$48.00 range.Upside Potential: With an upside target set at $78.00-$80.00, investors should consider Seadrill's strong performance, high day rates, and substantial order backlog as key drivers for potential stock appreciation.
📈🌊 Monitor Seadrill for promising investment opportunities! #SDRL #OffshoreDrilling 🛢️🚀
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.