Seadrill Partners LLC (SDLP) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 26, 2016.
Seadrill Partners LLC closed down -0.09 points or -1.44% at $6.16 with 8,03,252 shares getting traded on Wednesday. Post opening the session at $6.23, the shares hit an intraday low of $6.0176 and an intraday high of $6.29 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Seadrill Partners LLC owns operates and acquires offshore drilling rigs. The Company’s drilling units are under long-term contracts with oil companies such as Chevron BP ExxonMobil and Tullow. The Company provides services to these customers with its fleet. The Company’s fleet consists of the semi-submersible West Aquarius West Capricorn West Leo West Sirius; the semi-tender West Vencedor; the tender rig T-15 and T-16; the drillship West Auriga West Vela and West Capella. The Company provides drilling services on a dayrate contract basis.