DO - Do Drillers Have A Refinancing Problem?
With Brent (BNO) around $60 per barrel and no breakthroughs on the contract front, offshore drilling stocks continue to trade on speculation, driven by fears of collapse on the downside and fueled by optimism regarding future oil prices and contract activity on the upside.
Since most drillers carry a material debt load and the rebound in dayrates is getting postponed month by month, the situation on the debt raising front is worth monitoring for anyone interested in the industry. Fortunately, investors and traders in all offshore drilling stocks have a company that they