|Bid||0.0000 x 1800|
|Ask||0.0000 x 1300|
|Day's range||0.5020 - 0.5794|
|52-week range||0.2280 - 3.1500|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||-0.00|
|Earnings date||20 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||6.50|
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. A collapse of the offshore industry will have broad impact. Drillers and their suppliers have driven innovation that has helped shale and offshore wind companies by pioneering remote monitoring and control, and last year directly generated about 25% of global oil production.
Image source: The Motley Fool. Seadrill Limited (NYSE: SDRL)Q1 2020 Earnings CallJun 2, 2020, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood day and good afternoon, and welcome to the Seadrill Limited Q1 2020 Results for the Quarter Ended March 31, 2020 Conference Call.
Seadrill announced a writedown of $1.2 billion on the value of its oil drilling rigs on Tuesday and warned its survival hinges on converting parts of its $7.4 billion in debt into equity, sending its shares tumbling. The company plans to cut 1,400 jobs and lower costs by $130 million over the next 18 months, Chief Financial Officer Stuart Jackson told a conference call. "Until such time that an agreement is reached to restructure our borrowing commitments, substantial doubt remains over (the) ability to continue as a going concern," Seadrill said in its first-quarter earnings report on Tuesday.