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SDRL - Seadrill Partners Sliding Down Along The Slippery Slope
Seadrill Limited
(Courtesy: SDLP: The drillship West Auriga)
Investment Thesis
Seadrill Partners LLC (SDLP) kept sliding down since I published my preceding article, in which I was rightfully pushing for a short position. It is not something that I usually recommend, by the way.
Unfortunately, for long-term shareholders, I have been right, and the stock collapsed due to a potential restructuring under Chapter 11 within the next 12 months.