No Surprises: Seadrill Headed Towards Bankruptcy

In the least surprising offshore oil and gas news of the year so far, Seadrill Ltd. announced that it is likely going to file for bankruptcy on September 12. This filing - and that date, for that matter - have been telegraphed previously which makes this statement all the more puzzling:

We nailed the 9/12 date in our last newsletter. See:

As for the newness? Really dude? Is this guy even paying attention to the debtload on that company and the offshore industry, generally? Stock was down 31% on the news (granted to $0.18/share). Suckers.