The last few months have been really painful for offshore drilling stocks, and Diamond Offshore (DO) is not an exception. The company's shares dived from above $20 to under $10 and are currently losing 45% of value year-to-date. Oil price decline together with year-end selling and fears about the world recession created a perfect storm for drillers' shares. However, such times often provide the best opportunities. In this article, I will share my views on Diamond Offshore perspectives for 2019.
Company's current position
Let's look at where Diamond Offshore stands now. The company