If you have been following this column, you would know that master limited partnerships (MLPs) have become some of the highest yielders in the current stock market. Most MLPs come from the midstream energy sector. By operating midstream assets like transportation pipelines and storage terminals, these partnerships can churn out stable cash flows and pay hefty distributions.
Today’s article is about another energy partnership. But unlike most other MLPs, it is not in the energy transportation or storage business. Instead, I’m talking about Seadrill Partners LLC (NYSE:SDLP), which owns and operates offshore drilling rigs. The partnership was created by deepwater drilling contractor Seadrill Ltd (NYSE:SDRL) and went public in 2012. Since then, Seadrill Partners has grown quite a bit by acquiring offshore drilling rigs from its parent company, as well as from third parties.
Source: Income Investors
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