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Ensco Rowan (ESV) and Transocean (RIG) are the two most significant offshore drillers in the world and represent the safest bet in this challenged sector.
However, I decided a while back to liquidate my ESV long position due to several strategic decisions taken by management that I did not consider "smart."
These moves weakened the company at the time when it needed strength desperately.
First, Ensco made a huge and costly mistake by merging with Atwood Oceanics, and I was strongly opposed to the