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home / news releases / RIG - Ensco Rowan: Still Not Enough


RIG - Ensco Rowan: Still Not Enough

Source: MarineTraffic Picture: Semi-submersible Ensco 8503

Introduction

Ensco Rowan (ESV) continues to be one of my long-term investments in the offshore drilling sector with Transocean (RIG). However, I have significantly reduced my position in this company and increased my short-term trading position in the past two years. For Ensco, my decision to cut my holding drastically was based on two new developments.

First, I believe Ensco made a huge and costly mistake by merging with Atwood Oceanics (I was strongly opposed to the deal at the time) which severely weakened the

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Stock Information

Company Name: Transocean Ltd
Stock Symbol: RIG
Market: NYSE
Website: deepwater.com

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