Pacific Drilling SA
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.
Will Pacific Drilling’s Investors Have Positive Free Cash Flow after 4Q15?
Analysts estimate that Pacific Drilling will have a free cash flow of -$16 million in the 2H15, compared to the $106 million it had in the 1H15.
Seadrill Partners’ 2Q17 EBITDA Is Expected to Fall 41%
Analysts expect Seadrill Partners’ EBITDA to fall 41% in 2Q17. Analysts estimate that its 2Q17 EBITDA will be $129 million—compared to $219 million in 1Q17.
Transocean Issues 3Q17 and 2017 Cost Guidance
In 2Q17, Transocean (RIG) successfully reduced its costs. Despite a fall in its revenue, Transocean’s drilling-to-revenue ratio rose to 47% in 2Q17.
Jefferies and Credit Suisse Cut Diamond Offshore’s Target Price
In this article, we’ll look at the recent changes analysts have made to Diamond Offshore Drilling’s target prices and recommendations.
Noble’s Revenue Is Expected to Fall 68% in 2Q17
The estimated decline in Noble’s revenue is mostly due to poor industry conditions and the company’s comparatively weak backlog.
What Are Analysts’ Expectations of Seadrill’s 1Q17 Results?
Wall Street analysts expect Seadrill’s (SDRL) 1Q17 EBITDA to be $272 million, down from $528 million in 1Q16 and $354 million in 4Q16. Seadrill’s EBITDA estimate for fiscal 2017 is $937 million.
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.
The Intense Competition in the Offshore Drilling Industry
The offshore drilling industry has a high degree of financial and operating leverage, which forces participants to engage in price competition.
How Offshore and Onshore Drilling Perform when Oil Prices Tumble
Unconventional sources of onshore drilling have started gaining popularity in recent years, but the crude from these sources are costly to produce.
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.
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.
Seadrill Partners’ High Dividend Yield: Too Good To Be True?
Seadrill Partners has a very attractive current dividend yield of 52.9% as of December 11, 2015. Is such an attractive investment too good to be true?
Transocean’s Contract Negotiations and Backlog
As of October 2015, Transocean (RIG) had a backlog of $16.9 billion compared to $18.6 billion at the end of 2Q15. Backlog helps us gauge how and where a company’s future revenue may stand.
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.
Pacific Drilling’s Projected EBITDA: a Vision of the Future?
Wall Street analysts expect to see a dip in Pacific Drilling’s 3Q15 revenues. They expect costs in 3Q15 to be similar to 2Q15 but estimate a lower EBITDA.
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%.
Offshore Drillers Suffer as Oil Prices Remain below Break-Even
Goldman Sachs predicts oil prices to be near $50 per barrel for the next 15 years. As the forecast for oil prices is below the break-even prices, this significantly affects the drilling plans of oil companies.
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.