- Diamond Offshore Drilling is a pre-eminent player in the energy offshore drilling sub-sector.
- The company restructured via a Chapter 11 bankruptcy in 2020 and has emerged with a much improved balance sheet.
- As the Russia/Ukraine conflict flared up we saw a historic shift away from Russian oil & gas which has acted as a major positive catalyst for offshore drillers.
- With a surge in demand, particularly in the wake of Russia’s invasion of Ukraine, day-rates are increasing and operators are reactivating cold-stacked rigs in order to accommodate long-term demand.
- Diamond Offshore Drilling is a macro play with a restructured balance sheet and one of the last dominoes to fall as the macro energy super-cycle sweeps all related sub-sectors.
For further details see:
Diamond Offshore: Buy The Last Domino In The Energy Supercycle