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The last few months have been bad for offshore drilling stocks as a group. While Brent oil (BNO) prices stay above $70 due to situations in Iran, Venezuela, Libya, and OPEC's determination to bring oil inventories down, offshore drilling stocks have been sliding. One of the most significant downside moves happened in shares of Ensco Rowan (ESV), a new company formed by the merger of Ensco and Rowan. While the merger with Rowan obviously made Ensco stronger (more on that below), it certainly did not help the stock in the near