Re: SDRL v. SDLP
Here's a quote concerning NBV per share from yesterday's Jack Willoughby column on RIG in Barrons:
"Transocean [RIG] trades at $14, about a third of its estimated 2016 book value of $41, while other drillers trade at half of their book value."
But, again, SDRL is only selling at 11 percent of book value. Normally I don't pay much attention to net book value per share. This may be the exception.
Said in other words, I wonder just how much the market may have over-discounted the possibility of bankruptcy and massive dilution, or even a total wipe-out of equity.