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This article continues the tradition of writing recap and outlook for the next year for the offshore drilling industry (look here for articles on 2017 , 2018 and 2019 ). As usual, I'll start by reviewing my expectations for 2019 and then proceed to my views on 2020. 2019 Continuatio...
Ocean BlackHawk Just like the rest of the industry, Diamond Offshore ( DO ) has had a rough year and its shares have been under pressure since May. The company’s management has applied a conservative approach during the offshore drilling market downturn, and so far, they have been r...
A year ago, I wrote three articles on offshore drilling fundamentals in the drillship , semi-sub , and jack-up space. This work has evolved into a monthly series on offshore drilling fundamentals in floaters and jack-ups (drillships and semi-subs were combined into the "floaters" category ...
The following segment was excerpted from this fund letter published by Massif Capital . Diamond Offshore (DO) (Long): Diamond has been a painful investment for our portfolio. We invested too early in the cycle for offshore equipment, and the trough of the cycle h...
As it turned out, Luminus Management, a shareholder of Valaris ( VAL ) that has recently increased its stake and revealed its proposals, did not wait long before making additional moves. Luminus has just published a letter to Valaris shareholders in which it argued for the necessity to mak...
Pacific Sharav In this article, I want to share my view on what is the best way to make a bold, longer-term (more than one year) bet on the offshore drilling industry. This article is the result of the discussions in the comments sections of my offshore drilling related articles and explai...
The end of the month is near, and it’s high time for the traditional “supply fundamentals” series. As usual, we’ll start with floaters, and the next article will be about jack-ups. Bassoe Offshore database and the data compiled for my past work were used to prepare ...
This is the final article in the series dedicated to cold-stacked fleets. In previous installments, we looked at Transocean ( RIG ), Valaris ( VAL ), Seadrill ( SDRL ) and Seadrill Partners ( SDLPF ). This time, we turn our attention to Noble Corp. ( NE ), Diamond Offshore ( DO ) and Pac...
Over the course of 2019, the offshore drilling industry has mostly continued its slow recovery with fleet utilization increasing and rig charter rates up across the board. At current dayrate levels, most contracts should be cash flow positive, at least from a strictly operational perspective. ...
The price of crude oil jumped more than 3.5% on Friday due to several catalysts. This uptick fueled a big rally among energy stocks . Leading the way were Apache (NYSE: APA) , Chesapeake Energy (NYSE: CHK) , Diamond Offshore Drilling (NYSE: DO) , and Valaris (NYSE: VAL) , which all ...
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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...