BP - Another Driller Bites The Dust - Industry Implications
An interesting topic was raised in the comment section of my recent article on Noble Corp. (NE). Fred. Olsen Energy (FOEAY), has provided an update on refinancing which indicates that the company is on the verge of significant restructuring.
Fred. Olsen is mostly a North Sea player. The North Sea segment is the only segment of the offshore drilling market that is experiencing true recovery right now, so a restructuring of a company which has rigs suitable for this market is a significant development for any company with interests in the