Why Seadrill Partners LLC Dropped Almost 15% in July

Why Seadrill Partners LLC Dropped Almost 15% in July

Shares of Seadrill Partners LLC (NYSE: SDLP), a subsidiary of offshore oil-rig operator Seadrill (NYSE: SDRL), sank 14.4% in July. By contrast, its beleaguered parent actually finished the month up 2.3%.

The entire offshore rig industry has been hit hard by collapsing oil prices, and Seadrill and Seadrill Partners are no exceptions. Although it's a little unclear exactly why Seadrill Partners' share price dropped when it did, there's no shortage of reasons for investors to be concerned about the company.

Offshore oil-rig stocks have plummeted since oil prices began dropping in 2014, and the trend seems to show no sign of reversing itself. Image source: Getty Images.

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Source: Fool.com