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Shares of struggling offshore oil and gas-drilling services provider Transocean (NYSE: RIG) crashed hard and fast on August 21, down almost 28% at 3:44 p.m. EDT. Today's huge drop comes a couple of days following word that Valaris (NYSE: VAL) , one of its biggest competitor...
Loews (NYSE: L ) swings to a Q2 net loss per share of $2.96 compared with net income of 82 cents per share in the year-ago quarter, driven by a $957M writedown on the carrying value of its interest in Diamond Offshore Drilling (NYSE: DO ) as a result of its bankruptcy filing, significa...
Crashing crude oil prices this year have wrecked the finances of most oil and gas companies. Some have experienced such financial hardship that they've had to declare bankruptcy. The longer oil prices remain lower, the more this list is likely to grow. Investors need to brace themselves for ...
Q1 earnings was just a few weeks ago, with most oil and gas companies reporting between around the end of April and the first week of May. At the time, West Texas Intermediate (“WTI”) averaged just a touch over $20.00/barrel, with many in the market fearing that storage would so...
The drilling market has always been the first and most impacted when there is a crisis in the oil and gas segment, especially by the decrease in exploration. Drilling is a key indicator of the level of short- and medium-term activities expected for the entire sector. Globally, the current scen...
In an economic scenario where much more of the economy has shifted on-line to mitigate the spread of the virus, it is not surprising that Information Technology ( XLK ) is the best performing sector on the year, gaining 5% in a year where the market is currently down 8%. The only other sector ...
The recently passed stimulus bill, known as the CARES Act, included several provisions to provide funding to struggling businesses during the COVID-19 outbreak. One of the lesser-known opportunities made it easier for companies to deduct net operating losses and claim an immediate tax refund. ...
In 2014, oil was all the rage. After spending nearly all of 2013 above $100 per barrel, Brent crude stayed above the century mark for the first half of 2014, peaking at $115 per barrel in midsummer. Triple-digit oil, or so it seemed, was here to stay. At the time, onshore oil was steadily g...
The offshore drilling industry continues to take an absolute beating. On May 13, shares that make up nearly the entire sector fell by double digits on a combination of bad news on the oil inventory front, and a speech from U.S. Federal Reserve chairman Jerome Powell that spooked the entire stock...
Tidewater ( TDW ) has just reported its first-quarter results. While the offshore drilling industry is heading into mass restructuring (see my recent articles about Diamond Offshore ( DO ), Transocean ( RIG ), Valaris ( VAL ), Pacific Drilling ( PACD ) and Noble Corp . ( NE )), the ...
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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...