Seadrill Ltd.
December 1, 2011
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Shares of the owner of the large ultradeepwater fleet rose after it predicted a solid performance next year on higher demand for new rigs. Rising oil prices have resulted in higher exploration budgets and the need for rigs capable of operating in harsh and deepwater environments, such as Brazil and the Arctic, the firm said. Stricter rules after the Deepwater Horizon explosion in the Gulf of Mexico also increased demand for newer rigs.
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