Atwood Oceanics Inc

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  • uploads///Recommendations Analysts
    Earnings Report

    How Has Market Sentiment Changed for Noble?

    Noble (NE) has a consensus “hold” recommendation based on ratings from 39 analysts covering the stock, according to Bloomberg.

    By Sue Goodridge
  • uploads///drilling permits
    Company & Industry Overviews

    The 2010 Gulf Oil Spill Tragedy and Its Aftermath across the Industry

    The marine oil spill in April 2010 was the worst environmental disaster in US history, causing millions of barrels of oil gushed into the Gulf.

    By Sue Goodridge
  • uploads///Bankruptcy
    Energy & Utilities

    What Happened in September in the Offshore Drilling Space?

    The offshore drilling industry experienced many events in the first half of September 2017. Seadrill (SDRL) filed for Chapter 11 bankruptcy.

    By Sue Goodridge
  • uploads///EV EBITDA
    Company & Industry Overviews

    How to Interpret Valuation Multiples in the Offshore Drilling Industry

    Offshore drilling companies are capital-intensive and have varying degrees of financial leverage. Thus, we use the EV-to-EBITDA multiple as a valuation.

    By Sue Goodridge
  • uploads///APA Operating Revenues
    Company & Industry Overviews

    How Could Lower Production Impact Apache Corporation’s Revenues?

    Excluding the effect of hedges, Apache Corporation’s (APA) average realized crude oil (USO) price in 4Q15 was $38.86 per barrel, down ~45% from $70.81 per barrel in 4Q14.

    By Nicholas Chapman
  • uploads///Backlog
    Earnings Report

    Transocean Secured New Contracts

    As of July 25, 2017, Transocean (RIG) had a backlog of $10.2 billion—compared to $10.8 billion in April 2017.

    By Sue Goodridge
  • uploads///Oil Production
    Company & Industry Overviews

    Extracting the Basics: An Introduction to Offshore Drilling

    Oil is one of the most important and most frequently traded commodities, and offshore drilling is an integral part of the oil industry.

    By Sue Goodridge
  • uploads///Bargaining Power Final
    Company & Industry Overviews

    Is the Customer the King in Offshore Drilling?

    The bargaining power of offshore drilling customers is influenced by oil prices and utilization rates. When oil prices are high, rig capacity goes down.

    By Sue Goodridge
  • uploads///Crude oil rigs
    Energy & Utilities

    US Crude Oil Rigs Rose the Most since June 2017

    Baker Hughes released its weekly oil and gas rig count report on November 10. It estimated that US oil rig counts rose by nine to 738 on November 3–10.

    By Gordon Kristopher
  • uploads///Capex
    Earnings Report

    Understanding Ensco’s Capital Expenditure Plans

    In the first three months of 2017, Ensco saw cash flows from operations of $104 million, as compared to $233 million in 1Q16.

    By Sue Goodridge
  • uploads///NG rig
    Energy & Utilities

    US Crude Oil Prices Could Pressure Natural Gas Futures

    Baker Hughes is scheduled to release its US crude oil and natural gas rig count report on November 11, 2017.

    By Gordon Kristopher
  • uploads///EBITDA
    Earnings Report

    Inside Transocean’s Outlook after 1Q16

    Transocean does not expect to see a recovery in rig activity before 2017 as customer budgets have been set for 2016 and are unlikely to improve soon.

    By Sue Goodridge
  • uploads///Contracts
    Company & Industry Overviews

    Improper Stacking Can Weigh Negatively on Noble Corporation

    Cold-stacking rigs reduces costs much more than warm-stacking them. Noble Corporation (NE) seems to be quite reluctant to cold-stack its idle rigs.

    By Sue Goodridge
  • uploads///jackup floater
    Company & Industry Overviews

    Noble: Floaters Suffered More than Jack-Ups for the First Time

    For Noble Corporation, 63% of total revenue comes from ultra-deepwater floaters. Also, 16% of revenue comes from deepwater floaters and 21% from jack-ups.

    By Sue Goodridge
  • uploads///ebecbbdfbadec
    Company & Industry Overviews

    Seadrill Stock Rose 20% despite Bankruptcy

    Seadrill (SDRL) stock closed at $0.28 on September 13, 2017. The stock rose more than 20% in a single day.

    By Sue Goodridge
  • uploads///image
    Energy & Utilities

    US Natural Gas Rig Count: More Concerns for the Bulls?

    On August 4, Baker Hughes will release its weekly US natural gas rig count report. The US natural gas rig count rose by six to 192 rigs on July 21–28, 2017.

    By Gordon Kristopher
  • uploads///ATW_ESV combined BS
    Earnings Report

    Is Ensco Still Committed to ATW Acquisition despite Price Drops?

    On May 30, 2017, Ensco (ESV) announced its plan to acquire Atwood Oceanics (ATW) in an all-stock transaction.

    By Sue Goodridge
  • uploads///Expenses
    Earnings Report

    Behind Seadrill’s Cost-Cutting Measures

    From 4Q16 and 1Q17, Seadrill’s (SDRL) vessel operating expenses fell $23 million to $211 million—a 10% fall.

    By Sue Goodridge
  • uploads///Backlog
    Earnings Report

    Where Does Seadrill’s Backlog Stand amid the Current Downturn?

    On May 24, 2017, Seadrill (SDRL) had a backlog of $3.4 billion, which is higher than its backlog of $2.5 billion on February 28.

    By Sue Goodridge
  • uploads///Analyst
    Company & Industry Overviews

    Seadrill Has the Most ‘Sell’ Ratings among Its Peers

    In this part of the series, we’ll compare Wall Street analysts’ consensus ratings for the offshore drilling companies we’ve been analyzing.

    By Sue Goodridge
  • uploads///abaacadecbcdbfcddfb
    Earnings Report

    Analysts’ Take on Noble Energy’s 4Q16 Results

    Noble Energy (NE) is scheduled to release its 4Q16 results after the market closes on February 9, 2017. A conference call will follow on February 10, 2017.

    By Sue Goodridge
  • uploads///backlog
    Earnings Report

    What You Should Know about Ensco’s New Blend-and-Extend Contracts

    As of June 30, 2016, Ensco (ESV) had a total 2Q16 backlog of $4.1 billion compared to $5.2 billion at the end of 1Q16.

    By Sue Goodridge
  • uploads///cold stack
    Earnings Report

    Is More Rig Scrapping in Store for Diamond Offshore?

    Diamond Offshore Drilling cold stacked one rig in 1Q16. This brings the company’s total cold stacked rigs to 15%–50% of the total fleet.

    By Sue Goodridge
  • uploads///fbaebcfe
    Miscellaneous

    Why Barclays Downgraded ATW and ESV

    On March 28, 2016, Barclays downgraded offshore drilling companies Atwood Oceanics (ATW) and Ensco (ESV).

    By Sue Goodridge
  • uploads///OM Costs
    Company & Industry Overviews

    What Measures Is Transocean Taking to Preserve Cash?

    Transocean leads the industry in rig scrapping. It has scrapped 24 rigs since the oil industry downturn began.

    By Sue Goodridge
  • uploads///Utilization
    Company & Industry Overviews

    Understanding the Fight between Offshore Drillers and Lower Utilization Rates

    Utilization rates are calculated as the ratio of working rigs to the number of available rigs. A fall in rig count negatively impacts utilization rate.

    By Sue Goodridge
  • uploads///Rig count
    Company & Industry Overviews

    How Oil Prices and Rig Count Go Hand in Hand

    Oil prices and rig count have exhibited a positive relationship. When oil prices increase, the demand for drilling and so the rig count increases.

    By Sue Goodridge
  • uploads///Debt to Equity
    Company & Industry Overviews

    Measuring the Double-Edged Sword of High Leverage in Offshore Drilling

    High leverage in offshore drilling can be either good or bad, depending upon the revenues of the company in question.

    By Sue Goodridge
  • uploads///Offshore Basins
    Company & Industry Overviews

    How Geography and Climate Impact Offshore Oil Rig Choices

    The majority of offshore operations occur in six key locations worldwide that differ widely in terms of water depth, weather conditions, and remoteness.

    By Sue Goodridge
  • uploads///Process
    Company & Industry Overviews

    Why the Offshore Drilling Process Is so Complex and Costly

    The offshore drilling process requires complex machinery and large crews. At every stage, things that can go wrong, so each stage requires special care.

    By Sue Goodridge
  • uploads///Fleet
    Company & Industry Overviews

    Atwood Oceanics Postpones Delivery of Drillships

    On December 18, Atwood Oceanics (ATW) announced its agreement to delay the delivery of its two newbuild ultra-deepwater drillships, the Atwood Admiral and the Atwood Archer.

    By Sue Goodridge
  • uploads///Newbuild
    Company & Industry Overviews

    Ocean Rig Plans Capex of $329 Million for 2016

    Ocean Rig has a planned capex of $329 million for 2016, and going forward in 2017 this will increase to $468 million.

    By Sue Goodridge
  • uploads///Backlog
    Company & Industry Overviews

    A Closer Look At Pacific Drilling’s Backlog and Contracts

    As of August 2015, Pacific Drilling had a total backlog of $1.9 billion, compared to its backlog of $2.1 billion at the end of May 2015.

    By Sue Goodridge
  • uploads///Stock performance th Oct
    Company & Industry Overviews

    Pacific Drilling in 2015: Worst Case Scenario amid Imbalanced Industry

    As of October 15, 2015, Pacific Drilling has been eating through its backlog without replacing them with new contracts. But its stock has risen by 26%.

    By Sue Goodridge
  • uploads///Fleet
    Earnings Report

    Will Rowan Continue to Stack and Scrap Rigs?

    When a company chooses to scrap rigs, it reduces its costs, but it also reduces its fleet size and therefore its earning potential.

    By Sue Goodridge
  • uploads///Backlog
    Earnings Report

    A Deeper Look into Seadrill’s Backlog

    Seadrill has a backlog of $7.54 billion on its record, far less compared to $13.6 billion in the same period last year.

    By Sue Goodridge
  • uploads///backlog
    Earnings Report

    Noble Corporation’s Backlog

    Noble Corporation has a total backlog of $8,689 million compared to $9,425 million at the end of the previous quarter.

    By Sue Goodridge
  • uploads///caadddaaa
    Earnings Report

    What Do Noble Corporation’s Results Tell Us about the Industry

    In 2Q15, offshore drilling contractor Noble Corporation (NE) beat market estimates for EBITDA as well as revenue.

    By Sue Goodridge
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