It should be an interesting quarter. The big question for me is how they are going to book the sale of SapuraKencana. With the sale of those rigs, there will be some loss of revenue. However, there should be some healthy profits from the $2.9 billion sale. Certainly the $1.2 billion in cash they received should help address those worried about the ratio of cash flow to dividends. The sale also reduced their debt. And they will also have significant gains from the stock they have in SapuraKencana and Sevan Drilling. Now that they are a majority owner of Sevan, that may have some effect on earnings going forward.
We may also hear who this mysterious partner is with experience in arctic drilling - and how much cash they are putting up to become a partner.