Diamond Offshore Drilling Inc
Most Recent
Upstream Stocks Were the Energy Space’s Top Gainers Last Week
In the week that ended on April 5, upstream stock Denbury Resources (DNR) rose the most among the stocks in the energy space.
Jefferies and Susquehanna Revised Target Prices for Ensco
In Week 30, which ended on July 27, analysts revised their target prices for Ensco after its second-quarter results.
Must-Know Highlights from Transocean’s Q2 2018 Results
Transocean (RIG) released its second-quarter results yesterday after the markets closed. Let’s take a look.
Analyzing Ensco’s Backlog and Contracts
As of June 30, Ensco (ESV) had a total contracted backlog of $2.3 billion—compared to $2.8 billion as of December 31, 2017.
Ensco’s Capex Guidance for the Second Half of 2018
In the first half of 2018, Ensco had negative cash flows from operations of $18 million—compared to its positive cash flow of ~$130.5 million the previous year.
Why Diamond Offshore Stock Rose More than 5% this Morning
Diamond Offshore released its second-quarter results today before the markets opened. Let’s take a look.
What You Need to Know before Transocean’s Q2 2018 Earnings
Transocean (RIG) is set to release its second-quarter results today after the markets close. Let’s see what analysts expect.
Ensco Is Trading in the Green after Three Years
Ensco stock is finally trading in the green in 2018. As of July 24, Ensco has a YTD (year-to-date) return of 14.2%.
Transocean’s New Contracts with ConocoPhillips and Chevron
Transocean’s (RIG) ultra-deepwater semi-submersible GSF Development Driller I has secured an 11-well contract with Chevron (CVX) in Australia.
US Crude Oil Rigs Approach a Two-Month Low—What’s Next?
Active WTI crude oil futures decreased 1.0% to $70.46 per barrel from July 13 to July 20.
Four Analysts Revised Target Prices for Offshore Drilling Companies
In Week 28, RBC Capital, BMO, Evercore, and Susquehanna revised target prices for offshore drilling companies.
Diamond Offshore Has the Most ‘Sell’ Ratings among Peers
In this part of our series, we’ll compare Wall Street analysts’ consensus ratings for the offshore drilling companies we’ve been analyzing.
Comparing Offshore Drilling Companies’ Liquidity
Along with a company’s long-term solvency, it’s important to look at its liquidity position.
Which Offshore Drillers Have the Highest and Lowest Leverage?
Offshore drilling (XLE) companies are capital-intensive, so looking at their financial leverage is very important. The debt-to-equity ratio and net debt-to-EBITDA ratio show these companies’ financial leverage.
Transocean Has the Highest Backlog among Its Peers
In the last part of this series, we saw which offshore drillers had the highest and lowest falls in their backlogs. In this article, we’ll compare offshore drillers’ backlogs versus their revenues.
Transocean: The Lowest Drop in Backlog among Peers
Toward the end of 2014, oil prices took a dip and the offshore drilling industry entered into a brutal downturn. Since then, offshore drilling companies have had a hard time securing contracts.
US Crude Oil Rig Count Hits a Three-Year High
Baker Hughes, a GE company (BHGE), published its US crude oil rig count report on July 6, indicating that the US crude oil rig count rose by five last week to 863, its highest level since March 2015.
The Top Energy Decliners in the Week Ended July 6
During the week ended July 6, US crude oil August futures and natural gas August futures fell 0.5% and 2.3%, respectively.
Why Seadrill Stock Fell 52% on July 2
Seadrill (SDRL) stock fell to a 52-week low of $0.10 on July 2—a fall of 52.5% from the previous day’s closing price.
A Close Look at the International Offshore Rig Count
In May, the international offshore rig count was 198, up by four from 194 in April.
Why Offshore Drilling Stocks Rose 7%–11% Yesterday
Yesterday, US crude oil surged 3.2% to close at $72.76 per barrel—the highest level since November 2014. Oil prices rose after a significant drop in US crude oil supplies.
Jefferies Revises Ratings and Target Prices for Offshore Drillers
In Week 25, which ended June 22, Jefferies downgraded one offshore driller and revised the target prices for others.
On June 22, Offshore Drilling Stocks Rose on Volume Spike
On June 22, three offshore drilling stocks traded at unusually high volumes, which led to prices rising.
Offshore Drillers: Analysts’ Second-Quarter Revenue Estimates
Transocean’s (RIG) estimated second-quarter revenues are $764.5 million—15% above the previous quarter and 7.5% higher YoY.
Analyzing Offshore Drilling Companies’ First-Quarter EBITDA
In the first quarter, Ensco’s EBITDA fell to $91.3 million from $98.4 million in the fourth quarter of 2017. The first-quarter EBITDA was 45.3% lower YoY.
Comparing Ensco’s Backlog with Transocean and Diamond Offshore
As of March 31, Ensco (ESV) had a total contracted backlog of $2.7 billion—compared to $3.8 billion as of December 31, 2017.
Week 24: Where Was the US Offshore Rig Count Headed?
The US offshore rig count in Week 24, which ended June 15, was 20, the same as the previous week.
All Offshore Tanker Stocks Fell in Week 24
In Week 4, which ended June 15, offshore drilling stocks fell along with oil prices ahead of OPEC ’s meeting scheduled for June 22.
Analyzing Noble’s June Fleet Status Report
On June 7, Noble (NE) released its June fleet status report. Most of the offshore drilling companies don’t publish a monthly fleet status report.
Transocean’s Second-Quarter and 2018 Capex Guidance
In the first quarter, Transocean’s (RIG) cash flow from operations dropped to $103 million from $244 million in the previous quarter.
Transocean’s Second-Quarter and 2018 Cost Guidance
Transocean’s drilling-to-revenue ratio fell to 64% in the first quarter from 66% in the previous quarter. In the first quarter of 2017, the ratio was also 46%.
What Factors Will Affect SDLP’s Second-Quarter Revenue?
In the first quarter, Seadrill Partners’ (SDLP) operating revenue fell to $194.3 million from $256.2 million in the previous quarter.
Week 21: Offshore Rig Count Is Flat Compared to Previous Week
Last week, the US offshore rig count was at 19, the same as it was in the previous week.
Wells Fargo Upgrades Rowan Companies to ‘Outperform’
RDC’s analyst recommendations Analysts’ consensus rating for Rowan (RDC) is 2.6, which means a “hold.” Peers Transocean (RIG), Diamond Offshore (DO), Noble (NE), and Ensco (ESV) also have “hold” ratings. Of the 31 analysts covering Rowan (RDC), 39% recommend “buy” or some equivalent, 55% recommend “hold,” and 6% recommend “sell.” Among the top offshore drilling stocks […]
Week 19: Offshore Drilling Rig Count Rises by 2
In the week ended May 11, Rowan Companies and Noble Corporation were the top-performing offshore drilling stocks. Each stock rose ~12%.
Is a Jack-Up Recovery Coming?
As of March 31, Ensco (ESV) had a total contracted backlog of $2.7 billion—compared to $3.8 billion as of December 31, 2017.
Analysts’ Revisions for Ensco and Rowan Companies
On April 30, Wells Fargo reduced the target price for Ensco to $5 from $6. In week 17, Susquehanna reduced the target price for Ensco to $5 from $5.5.
Week 18: US Offshore Rig Count Rose by 1
In week 18, Ensco and Seadrill were the best performers among offshore drilling stocks. Diamond Offshore was the worst performer.
Rowan Companies Lowers Its 2018 Cost Guidance
Rowan Companies’ (RDC) direct operating costs, excluding rebillable items, were $140 million in 1Q18, below its guidance of $150 million–$160 million.
Digging into Rowan Companies’ 1Q18 Revenue
Rowan Companies (RDC) has two main operating segments—Ultra-Deepwater Drillships and Jack-Up Drilling Rigs.
Estimates and Recommendations for Ensco ahead of 1Q18 Earnings
Of the 32 analysts covering Ensco (ESV), 44% recommend a “buy” or equivalent for the stock.
Offshore Drilling Stocks: Mixed Performances in March
As of March 29, Ensco’s stock price has dropped 1.1% since the beginning of the month. The stock is trading 53.7% lower than its 52-week high.
Analysts’ Revisions for Offshore Drilling Stocks
None of the analysts revised their recommendation or target prices for offshore drilling stocks in week 12.
Ensco’s 4Q17 Earnings Compared to Transocean and Diamond Offshore
In 4Q17, Ensco’s EBITDA fell to $98.4 million from $149.5 million in 3Q17. The company’s EBITDA was 48% lower than its 4Q16 EBITDA of $190.0 million.
Which Offshore Drilling Company’s Backlog Rose from 4Q17?
As of February 19, 2018, Transocean (RIG) had a backlog of $12.8 billion—up from $9.4 billion in October 2017.
Why 7 Analysts Revised Rowan Companies’ Target Price
On March 5, 2018, UBS reduced Rowan Companies’ target price to $17 from $18. On March 2, 2018, Wells Fargo cut the target price to $12 from $16.
Rowan Companies: Fighting the Downturn
As of December 31, 2017, Rowan Companies has long-term debt of $2.5 billion. The company doesn’t have any debt maturities in 2018.
Rowan Companies’ Provided Its 2018 Capex Guidance
In 4Q17, Rowan Companies’ (RDC) capital expenditure or capex was $22 million. The capex was lower than the previous estimate.
Dissecting Rowan Companies’ Backlog
As of February 13, 2018, Rowan Companies (RDC) had a backlog of $456 million—down from $1.7 billion in February 2017.
Rowan Companies’ 1Q18 Cost Guidance
Rowan Companies’ (RDC) direct operating costs were $166 million in 4Q17—above the previous guidance of $150 million–$160 million.
Rowan Companies: Analyzing Its 4Q17 Revenue
Rowan Companies’ total drilling revenue for 4Q17 was $296 million—1.7% higher than $291 million in 3Q17.
Week 10: Offshore Drilling Industry Update
Rowan Companies had the worst YTD returns as of March 9, 2018. The stock has fallen 23.2% since the start of the year.
A Detailed Look at Ensco’s Backlog
As of December 31, 2017, Ensco (ESV) had a total contracted backlog of $2.8 billion compared to $3.6 billion as of December 30, 2016.
Drilling into Ensco’s 4Q17 Revenues and Expectations for 1Q18
Ensco expects its 1Q18 revenues to fall 8.0% quarter-over-quarter due to lower revenues from Ensco DS-7 and Ensco DS-6.
Ensco’s Views on the Jack-Up and Floater Segments
Ensco (ESV) has the highest number of jack-up rigs among its peers.
A Look at Seadrill Partners’ Cost Performance in 4Q17
Seadrill Partners’ (SDLP) vessel and rig operating expenses fell 3% to $94 million in 4Q17 compared to $96.9 million in 3Q17.
Seadrill Partners: How the Backlog Looks after 4Q17
Seadrill Partners’ (SDLP) backlog was $1.5 billion on February 22, 2018. It fell from $1.7 billion in November 2017.
Transocean’s Fleet: Rig Additions and Subtractions in 2017
In 2017, Transocean added two ultra-deepwater newbuild drillships—Deepwater Pontus and Deepwater Poseidon—to its fleet.
Transocean’s Cost Guidance for 1Q18 and 2018
In 4Q17, Transocean’s (RIG) costs increased. With a fall in revenue, Transocean’s drilling-to-revenue ratio rose to 66% in 4Q17 from 46% in 3Q17.
Transocean’s Backlog and Contracts
As of February 19, 2018, Transocean (RIG) had a backlog of $12.8 billion—up from $9.4 billion in October 2017.
Inside Rowan Companies’ 4Q17 Earnings Estimate
Analysts expect a fall in Rowan Companies’ (RDC) EBITDA (earnings before interest, tax, depreciation, and amortization).
Jefferies Revises Target Prices for Diamond Offshore, Noble
Article focus In this article, we’ll discuss analysts’ target price revisions for offshore drilling companies in Week 8 of 2018 (ended February 23). Revisions in Week 8 Jefferies revised its target prices for two offshore drillers. On February 21, 2018, it reduced the target price for Transocean (RIG) to $12 from 413 and maintained a […]
Diamond Offshore’s Backlog and Contracts
As of January 1, 2018, Diamond Offshore Drilling (DO) had a backlog of $2.4 billion—compared to $3.5 billion on January 1, 2017.
Diamond Offshore: Target Prices after Its 4Q17 Results
On February 13, UBS reduced the target price on Diamond Offshore to $20 from $22. Simmons reduced the target price to $9.35 from $10.
Analyzing Diamond Offshore’s 4Q17 Revenues
Diamond Offshore Drilling’s total 4Q17 drilling revenue was $338 million—a fall of almost 6% from $357 million in 3Q17.
Drilling Deep into Diamond Offshore’s 4Q17 Results
Diamond Offshore Drilling’s (DO) total revenue fell 5.4% in 4Q17 to $346 million—compared to $366 million in 3Q17.
Shallow Water Drilling Permits Rose, Deepwater Permits Fell
In December 2017, no drilling permits were issued in the Gulf of Mexico’s shallow waters. In November, one drilling permit was issued.
US Natural Gas Rigs Are near September 2017 High
Natural gas rigs fell by one to 188 on January 19–26, 2018. US natural gas rigs were near the highest level since September 2017.
Which Offshore Driller Has the Highest Backlog among Its Peers?
In this article, we’ll look at offshore drillers’ backlogs in comparison to their revenues.
The Offshore Drillers with the Highest and Lowest Credit Ratings
Among the offshore drillers under our consideration in this series, Diamond Offshore Drilling (DO) has the highest credit rating by Moody’s at “Ba3.”
Comparing Offshore Drillers’ Leverages
Offshore drilling (IYE) companies are capital intensive, so looking at their financial leverages is very important.
Sink or Swim: Which Offshore Drillers Survived the Downturn?
Offshore drillers have seen mixed returns on a year-to-date basis. The worst performer has been Rowan Companies, and the best performer has been Ensco.
Rowan Companies: 4Q17 Analyst Estimates and Recommendations
Of the 33 analysts covering Rowan Companies (RDC), 30% recommend a “buy” or some equivalent for the stock, while 61% recommend a “hold.”
Analyst Recommendations for Transocean before 4Q17 Results
Of the 34 analysts covering Transocean, 44% recommend a “buy” or some equivalent for the stock, while 32% recommend a “hold.”
Diamond Offshore Drilling: 4Q Analyst Estimates, Recommendations
Of the 32 analysts covering Diamond Offshore Drilling (DO), only 9% recommend a “buy” or equivalent for the stock.
Barclays Downgrades 2 Offshore Drillers, Revises Target Prices
On January 24, 2018, Barclays revised its target prices for many offshore drilling stocks (XLE).
Noble Corporation’s Latest Fleet Status Report
At the end of the third quarter, Noble Corporation’s backlog stood at $3.18 billion—down 1% from the previous quarter.
Transocean’s Key Updates Last Week
On January 18, 2018, Transocean announced that it concluded its shareholder meeting. Shareholders approved the acquisition of Songa Offshore.
Will the US Dollar and Inventories Impact Crude Oil Futures?
March US crude oil (DBO) (UWT) futures contracts increased 1.8% to $65.61 per barrel on January 24, 2018.
One More Downgrade Comes in for Diamond Offshore
Of the 32 analysts covering Diamond Offshore (DO), only 9% recommend a “buy” or equivalent for the stock.
US Crude Oil Rigs Could Impact Crude Oil Prices in 2018
Baker Hughes released its US crude oil rigs report on January 12, 2018. It reported that US crude oil rigs increased by ten to 752 on January 5–12, 2018.
Jefferies, Citigroup Revised Their Offshore Stock Recommendations
In the week ended January 5, 2018, Jefferies and Citigroup revised their target prices and recommendations for offshore drilling stocks.
Offshore Drilling Stocks Start 2018 on a Good Note
In the week ended January 5, 2018, all offshore drilling stocks traded in the green. Noble Corporation (NE) was the best performer among its offshore drilling peers.
Are US Crude Oil Rigs Impacting Crude Oil Prices?
US crude oil rigs fell by five or 0.7% to 742 between December 29, 2017, and January 5, 2018. The rigs were near an eight-week low.
RBC Revised Its Target Prices for Offshore Drillers Last Week
In this article, we’ll take a look at RBC Capital’s revised target prices for three offshore drillers (IYE).
Updates on Seadrill’s Restructuring Plan
Last week, Seadrill (SDRL) received another restructuring proposal. This time, the proposal was from Barclays, which holds Seadrill’s bonds.
US Crude Oil Rigs Could Impact Crude Oil Prices in 2018
Baker Hughes released its US crude oil rig count report on December 29. It reported that US crude oil rigs were flat at 747 on December 22–29, 2017.
How Many Drilling Permits Were Issued in November?
In November 2017, one drilling permit was issued in the shallow waters of the Gulf of Mexico.
Moody’s Changed Seadrill Partners’ Outlook
On December 13, 2017, Moodys affirmed the “Caa2” rating on Seadrill Partners (SDLP) and changed the outlook to “stable” from “negative.”
Ensco: The 5th-Best Performing Stock in Offshore Drilling
Among offshore drilling stocks, Ensco (ESV) is the fifth-best-performing stock in 2017. It had a YTD (year-to-date) return of -42.5% as of December 12, 2017.
Noble: 3rd-Best Performing Stock in the Offshore Drilling Space
Noble Corporation (NE) is the third-best-performing stock among its peers, behind Diamond Offshore Drilling (DO) and Rowan Companies (RDC).
Rowan Companies: The 2nd-Best Performing Offshore Drilling Stock
Rowan Companies’ (RDC) year-to-date return was -22.6% as of December 12, 2017. The stock has underperformed its peer Diamond Offshore Drilling (DO).
Diamond Offshore Drilling: Best Offshore Drilling Stock in 2017
Diamond Offshore Drilling’s (DO) YTD (year-to-date) returns were -3.5% as of December 12, 2017.
Crude Oil Prices Add More Concerns for Gas Rigs and Prices
Baker Hughes will publish its US natural gas rig count report on December 8, 2017. Gas rigs rose by four to 180 on November 22–December 1, 2017.
Where Is the Offshore Rig Count Heading?
In October 2017, the international offshore rig count was 204—down 14 rigs from 190 in the previous month.
Offshore Drilling Rig Count Rose by 3 Last Week
The US offshore rig count for the week ending November 17, 2017, was 21—three higher than the previous week.
US Crude Oil Rigs Were Flat Last Week
Baker Hughes reported that US oil rig counts were flat at 738 on November 10–17, 2017. The rigs rose 63.3% from the same period in 2016.
Will US Crude Oil and Gas Rigs Pressure Natural Gas Futures?
Baker Hughes will publish its US crude oil and natural gas rig count report on November 17, 2017. The rigs were flat at 169 on November 3–10, 2017.
Analysts Revised Target Prices for RIG, RDC, and NE
In the week ending November 10, 2017, analysts revised target prices for Transocean (RIG), Rowan Companies (RDC), and Noble (NE).
How Rig Count and Oil Prices Trended Last Week
The US offshore rig count for the week ending November 10, 2017, was 18, unchanged from the previous week.