To say that the selling is gotten out of hand is a gross understatement. With all the bullish articles out there, who the heck continues to sell? Yield now approaching 10%.This has been gut wrenching. Hopefully, we're near a bottom!
When this gets down to where the yield is over 10%, buying with both hands would make sense. Then, when the share price goes over $50, you will have $15 in capital gains and STILL get 10% on your shares bought in the mid $30s.
Serious long term investors abhor SDRL pushing the envelope on div. payout to the max, leaving apparently no reserves for contingencies which tend to pop up at the most inconenvient time but inevitably!