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Why Seadrill Partners LLC Jumped 12.4% in September, Despite its Parent's Bankruptcy

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Why Seadrill Partners LLC Jumped 12.4% in September, Despite its Parent's Bankruptcy

The month of September couldn't have been more different for offshore rig operator Seadrill (NYSE: SDRL) and its subsidiary Seadrill Partners LLC (NYSE: SDLP). One saw its shares rise more than 10%. The other filed for bankruptcy...and still saw its shares rise 25%.

Here's what to make of this incredibly unusual situation.

Offshore rig operator Seadrill has filed for Chapter 11 bankruptcy, but shares of subsidiary Seadrill Partners are seeing an uptrend. Image source: Getty Images.

Source: Fool.com