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For The World’s Largest Rig Operator, The “Recovery” Is Now Worse Than The Post-Lehman Crash | Zero Hedge

For The World’s Largest Rig Operator, The “Recovery” Is Now Worse Than The Post-Lehman Crash | Zero Hedge.

The last time the world’s largest oil and gas drill operator, Seadrill, halted its dividend payment was in 2009, shortly after Lehman had filed and the world was engulfed in a massive depression. Retrospectively, this made sense: the company was struggling not only with depressionary oil prices, but with a legacy epic debt load as can be seen on the chart below.

So the fact that the stock of Seadrill collapsed by 20% today following a shocking overnight announcement that it had once again halted its dividend…

…click on the above link to read the rest of the article…

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