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Transocean ( RIG ) has just announced that it would relinquish interests in two drillships under construction – Ocean Rig Santorini and Ocean Rig Crete – to Samsung Heavy Industries. The company will no longer make any payments to the yard. Transocean stated that future costs a...
Note: I have covered Transocean (NYSE: RIG ) previously, so investors should view this as an update to my earlier articles on the company. Transocean management never fails to surprise investors as evidenced again by Monday's decision to give up on two 7th generation drillship n...
Note: I have previously covered Pacific Drilling (NYSE: PACD ), so investors should view this as an update to my earlier articles on the company. Junior offshore driller Pacific Drilling emerged from bankruptcy late last year with a significantly reduced debt load, no maturit...
Shares of offshore drillers Valaris (NYSE: VAL) , Diamond Offshore Drilling (NYSE: DO) , Seadrill (NYSE: SDRL) , and Transocean (NYSE: RIG) were down between 5% and 6% at 12:47 p.m. EDT on Sept. 17. This big sell-off came after yesterday's massive run-up , which saw this same group...
Oil and gas names ( XLE -1.7% ) tumble into the red following a report that Saudi Arabia could fully restore its lost oil production within 2-3 weeks. More news on: Energy Select Sector SPDR ETF, Chesapeake Energy Corporation, Apache Corporation, Energy stocks news, Stocks on the move,...
This article was selected to be shared with PRO+ Small & Micro subscribers - find out more here . Borr Drilling ( BORR ) is a newcomer in the offshore drilling industry, established by former Seadrill executive Tor Olav Trøim to take advantage of the major industry downturn tha...
The last summer month ends soon, and it means that it is high time for the monthly floater fundamentals assessment. August turned out to be another rough month for the offshore drilling stocks, which have been under pressure since May. Let’s look at whether such pressure is justified by...
Depending on how you define it, crude oil is in a "bull market" with the price of WTI crude up 23% year to date and an even more impressive 32% off the lows from December of 2018. It may not quite feel that way, however, as prices have been exceptionally volatile with growing concerns over glo...
(Image: Semi-submersible Ocean BlackRhino Source: ALP Marine Traffic) Investment Thesis Diamond Offshore ( DO ) is one of the "struggling" offshore drillers with still a decent balance sheet. However, as I said in my preceding articles, the company presents definitive weaknesses when it ...
It has been about one year since I last looked at Diamond Offshore ( DO ) and the offshore drilling space in general. I decided to take a peek into the sector to assess how the players have performed over the past 12 months after crude oil prices recovered 10% to 15% during the period. Hel...
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Noble Corporation and Diamond Offshore Announce Expiration of Hart-Scott-Rodino Act Waiting Period and Provide Transaction Update PR Newswire SUGAR LAND, Texas , July 25, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE: NOBLE, NYSE: NE) and Diamond Offs...
DIAMOND OFFSHORE TO RELEASE SECOND QUARTER 2024 RESULTS PR Newswire HOUSTON , July 17, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO) announced today that it will release its second quarter 2024 operating results on Tuesday, August 6, 2024 af...
2024-07-10 22:36:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...