From MF today: "Seadrill Secures New Contracts for Jack-Up Rigs Despite Market Slowdown."
Need we say more ! Folks - Hold onto your SDRL Shares at least to 2020 when they reach 70 to 80 dollars a Share. Rigs are 92% contracted for the rest of 2014 and although they are only 64% contracted for 2015 - a lot of the 2014 customers have options for extensions in 2015. 20 Billion dollars in backlog in orders thru 2019. Third world countries are only going to get thirstier for Oil as they develop. I'm sitting back - enjoying and reinvesting the 10% Dividends and laughing at all the Short-Term Thinkers who get uptight over the current slowdown in the Rig business.
I`m glad to see that i`m not the only one that thinks years out and not days or weeks. It haas always piad off for me except on AA. I bought Alcoa around six years ago for $10.67 held it for five years. Needed some money and sold it around $8.25, within days it was headed back up. I wont even mention my results with NEM.
chuck gets it....it's the developing world that is buying into SDRL.....Mexico and Vietnam going foreign is big....Ghana and Congo....Australia....and big things to come from Malaysia, Indonesia, and the Philippines...the emerging countries will partner with foreigner companies if their national interests are protected and respected....SDRL stands first in working with them...No emerging country wants to be dependent on any foreign oil and all those who have oil/gas will drill as much as possible...SDRL gets it.