In this video, Motley Fool Energy Analyst Taylor Muckerman tells us about Seadrill's (NYSE:SDRL) big new $590M purchase: an ultra-deepwater semi-submersible rig. Muckerman tells us how this should have an immediate impact on both the company's cash flow and overall finances. He also discusses some other expansion plans for the ultra-deepwater sector.

Taylor Muckerman owns shares of Ensco. The Motley Fool owns shares of Transocean and Seadrill. Motley Fool newsletter services recommend Seadrill. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.