Earnings & conf call for SDRL/NATDF were good/fine as far as I'm concerned. Glad to see everything getting "back to normal", and the thesis on both stocks remains intact. Long term buy-and-holds with great divvys. Feels like some of the uncertainty that SDRL created in the past few quarters (lower utilization rates, 6 month div gap due to accelerated div, financial #'s looking weaker on the surface) is gone.
Both stocks have plenty of upside for the coming year (SDRL with lots of key new build deliveries, NATDF with partnership & IPO prospects) and the divs are sustainable which will keep me sleeping soundly on any major market weakness. Not much more to say on these 2 until future news comes out!
The Board has together with the Board of NADL decided to postpone the proposed listing of
NADL in New York until Q3 2013. The reason for the delay is related to the fact that NADL
actively have been engaged in discussions with potential strategic partners. Such a transaction
may include joint ventures as well as direct ownership. The target is to position the Company
better for the high growth activities, which are expected in harsh environment areas like the
Barents and Kara Sea. Certain progress has been made and a final decision if such a
partnership will be realized should be expected within the next month. The Board is fully
committed to completing the listing process whatever the outcome of these discussions may be
and the Company will resume the IPO process in the third quarter.
Bob: Either way it goes it's a WIN/WIN... Glad I doubled-down... Nothing like owning a stock that has either a potential buyer waiting OR in the alternative, to be partnered with a larger player... The CC meeting was much better than I anticipated !