ESV News and Press, Ensco plc Class A From 06/10/19

Ensco Rowan plc (NYSE: ESV) (“EnscoRowan” or the “Company”) announced today that it has received the consents necessary to effect the Proposed Amendments to each of the indentures (the “Indentures”) governing the following outstanding senior notes (t...

Ensco Rowan plc (NYSE: ESV) (“EnscoRowan” or the “Company”) announced today that it has commenced a consent solicitation (“Consent Solicitation”) on behalf of its wholly-owned subsidiary, Rowan Companies, Inc. (the “Issuer”), with respe...

Seadrill Partners ( SDLP ) has just announced that it will have a one-for-ten reverse unit split which is expected to be effective after the close of trading on July 1, 2019. The reverse split will reduce the number of common units from 75,278,250 to approximately 7,527,825 common units. The...

In previous articles on the fundamentals of the offshore drilling market, we have discussed drillships ( here ) and semi-subs ( here ). Now, it's time to look at the last piece of the offshore drilling puzzle and dive into the world of jack-ups. The situation in this market is important for in...

On Thursday, May 23, 2019, offshore drilling contractor Seadrill Ltd. ( SDRL ) announced its first quarter 2019 earnings results. At first glance, these results appeared to be mixed as the company managed to beat the expectations of its analysts on the top-line but failed to beat earnings ex...

Crude oil suffered its worst trading session of the year , as losses mounted throughout the day amid a burst of pessimism over U.S.-China trade tensions that pushed investors away from risky assets. More news on: Hess Corporation, Continental Resources, Inc., Devon Energy Corporation, Ene...

The recent downside in offshore drilling stocks prompted me to take another look at the industry's fundamentals. Here, on Seeking Alpha, the topic which can be loosely called "market sentiment vs. reality" has been debated for several weeks now. Even Bassoe Offshore recently came up with an a...

Ensco Rowan (NYSE: ESV ) -1.5% after-hours on news it will not pay a regular quarterly cash dividend; no further details are provided. More news on: Ensco Rowan plc, Energy stocks news, Stocks on the move, Read more ...

Ensco Rowan plc (NYSE: ESV) (“EnscoRowan” or the “Company”) announced today that its Board of Directors has determined that the Company will not pay a regular quarterly cash dividend. Prior to completing the Company’s merger in April 2019, legacy Ensco shar...

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 significan...