Even the best company in a particular industry can get dragged down in a slow market, and Seadrill (NYSE:SDRL) is no exception. A lack of new contracts led to a decline in Seadrill's utilization rate below 90% for the first time in two years. But considering that it still has a 20 percentage point advantage over both Ensco (NYSE:ESV) and Transocean (NYSE:RIG), it goes to show how strong the company is in relation to its competition.
As Seadrill and the rest of the industry work through this down market, a few quarters of less than stellar performance can be expected. Long term, though, there is one thing that investors need to keep an eye on for the rest of this year. Find out what that is by tuning into the video below.
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