ESV - Diamond Offshore: Looking At M&A Perspectives After Ensco/Rowan Merger
Diamond Offshore (DO) was a frequent “guest” in the comments related to the recent announcement of the Ensco (ESV)-Rowan (RDC) merger (I wrote about it here). Diamond Offshore has followed a very conservative strategy during this downturn, and many observers believe that it has missed the boat - competitors are merging at full speed, asset prices are rising, etc. Let’s look at this situation in more detail.
Ocean GreatWhite
Currently, Diamond Offshore has 17 rigs: 4 drillships and 13 semi-subs. All four drillships are top rigs which have recently received material contract extensions. The