Why Seadrill Partners LLC Jumped More Than 20% in August

Shares of Seadrill Partners LLC (NYSE: SDLP) -- not to be confused with its troubled parent company Seadrill -- rose 21.3% in August. Most of the jump occurred on Aug. 17, after Seadrill Partners announced amendments to its credit agreements and reinstated its cash distributions to shareholders. The stock rose further in anticipation of the company's Q2 2017 earnings but eased off a bit after earnings were announced. 

Seadrill Partners LLC has been hit hard by the stock market over the past few years. But its parent, Seadrill, is even worse off. Image source: Getty Images.

It would take a long time to fully discuss the ins and outs of Seadrill Partners' relationship with its parent company, Seadrill. But what you need to know is that Seadrill Partners owns and operates 11 drilling rigs. Seadrill owns its own fleet of 49 rigs, with an additional 13 under construction, and also owns Seadrill Partners. 

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Source: Fool.com