ORIG - Will Drillship Rates Rise Rapidly?
The recent decision of Transocean (RIG) to purchase Ocean Rig (ORIG) ignited a debate on whether floater rates (and, specifically, drillship rates since Ocean Rig has 9 drillships) will indeed rise rapidly and if we will see scarcity of rigs soon. This question is important not only for shareholders of Transocean and Ocean Rig but also for investors in all companies which have drillships, be it Diamond Offshore (DO), Rowan (RDC), Ensco (ESV), Noble Corp. (NE), Seadrill (SDRL) or Seadrill Partners