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What’s the Next Big Move for David Einhorn?
Billionaire David Einhorn is prominent in the hedge fund industry for his bold investment strategies.
US Offshore Rig Count Fell by Two in Week 30
The US offshore rig count in Week 30, which ended July 27, was 16, one less than the previous week and eight less YoY (year-over-year).
Seadrill: Best Performer among Peers Last Week
Offshore drilling stocks had mixed returns in Week 30, which ended July 27. The best performer was Seadrill (SDRL).
Ensco Stock Rose 6% after Its Second-Quarter Results
Ensco’s second-quarter revenues were 2.45% higher than expected. The company’s EBITDA was 11.6% higher than the consensus estimates.
Offshore Drilling Rig Count and Stocks Fell in Week 29
In Week 29, which ended on July 20, all offshore drilling stocks traded in the red. Seadrill (SDRL) fell the most.
Comparing Offshore Drilling Companies’ Dividend Yields
Dividend yield indicates how much a company pays in dividends relative to its share price. It’s calculated as the dollar value of dividends as a percentage of the stock price.
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.
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.
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.
Week 22: Offshore Rig Count Is Flat from the Previous Week
Most of the offshore drilling stocks traded in the green in the week ended June 1, returning 3.0%–6.5%.
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%.
Transocean’s Stock Performance and Broad Equity Market Indexes
As of May 30, Transocean (RIG) stock had a good run in the last three months. The stock rose more than 37% during this period.
Seadrill Stock Fell 32% in Week 21
Even after week 21’s fall in stock price, Seadrill still has a whopping 82.8% year-to-date return as of May 25.
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.
Why Seadrill Stock Skyrocketed
Seadrill stock has skyrocketed. On May 17, the stock rose 26.1% and reached $0.58. The company’s volume increased to 69.3 million shares.
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%.
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.
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.
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.
Inside Rowan Companies’ 4Q17 Earnings Estimate
Analysts expect a fall in Rowan Companies’ (RDC) EBITDA (earnings before interest, tax, depreciation, and amortization).
The Only 2 Offshore Drillers That Still Pay Dividends
Slumping oil prices have put offshore drillers (IYE) under financial pressure. The first victim of this pressure has been dividends.
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.
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.
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.
What’s in Store for the US Offshore Rig Count?
The US offshore rig count stood at 19 in the week ended December 22, 2017.
Which Energy Stocks Were Top Losers Last Week?
In the seven calendar days to December 22, 2017, oilfield services company Seadrill (SDRL) was the largest loser.
Seadrill Underpeformed Oil Prices the Most Last Week
On November 24–December 1, 2017, oilfield services stock Seadrill (SDRL) fell the most among energy stocks.
These Stocks Were the Top Energy Gainers Last Week
Between November 17 and November 24, 2017, oilfield services stock CARBO Ceramics (CRR) was the biggest gainer on our list of energy stocks.
Another Offshore Driller Applied for Bankruptcy
Pacific Drilling (PACD) filed for Chapter 11 bankruptcy protection in an aim to restructure roughly $3 billion in debt.
Diamond Offshore Drilling Gives 4Q17 Cost Guidance
In 3Q17, Diamond Offshore Drilling’s (DO) drilling expenses rose 1% from the previous quarter and 6% from the prior year.
Oil Prices above $60: What It Means for Offshore Drilling
Oil prices are above $60 per barrel after almost two years. On October 30, Brent crude oil prices were $60.10 per barrel.
Analysts Estimate a 22.3% Fall in Transocean’s 3Q17 Revenue
For Transocean, analysts project revenue of just over $701 million in 3Q17—a 1.4% fall from its revenue of $711 million in 2Q17 and a 22.3% fall YoY.
Why Analysts Expect a Rise in Diamond Offshore’s 3Q17 Revenue
Previously in this series, we saw that most analysts rate Diamond Offshore Drilling (DO) a “hold.” In this part of our series, we’ll see how analysts view Diamond Offshore Drilling’s 3Q17 revenues and EBITDA.
Seadrill: What Analysts Estimate for 3Q17 and Beyond
Seadrill (SDRL) filed for Chapter 11 bankruptcy protection in September. The company had applied for a “first-day” motion, and on September 13, it got approval from the court.
Ranking the Top 5 Offshore Drillers by 2017 Market Returns
Even though all offshore drillers traded in the red this year, we’re still going to analyze the top five YTD returns of companies in the industry.
Offshore Drillers’ View on the Industry’s Outlook
Atwood Oceanics (ATW) expects the offshore drilling industry to remain challenging for at least the next year. However, it’s optimistic about a comeback.
Transocean and Atwood Were Best Performers among Peers Last Week
In the week ending September 29, 2017, almost all of the offshore drilling stocks traded in the green.
Oil Prices Hit 2-Year High: What It Means to Drilling Industry
The fate of the offshore drilling industry is closely tied to oil prices.
Which MLPs Rose More than 4% in the Week Ending September 15?
Dominion Midstream Partners (DM) was the top MLP gainer in the week ending September 22, 2017. Dominion Midstream rose 12.1% during the week.
Last Week on Market Realist: Key Energy Industry Updates
In its 2Q17 earnings conference, Whiting Petroleum lowered its capex for 2017 from $1.1 billion to $950 million. Its capex was ~$554 million in 2016.
Diamond Offshore Stock Best among Peers: What Analysts Say
Due to the brutal industry downturn, all offshore drilling (OIH) stocks have taken a hit. All stocks in the industry gave negative returns in 2016.
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.
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.
Why Seadrill Stock Rose and Pacific Drilling Stock Fell Last Week
On Friday, September 1, 2017, Seadrill (SDRL) stock soared 48.0% on the New York Stock Exchange and 158.0% in Oslo trading following a Bloomberg report.
Seadrill Stock Rose 43% Last Week
In the week ended September 1, 2017, Seadrill (SDRL), which has fallen 91.0% since the start of the year, was the best performer, rising a whopping 43.0%.
Top MLPs Losers Last Week, Ended September 1
Teekay Offshore Partners (TOO) was the top MLP loser last week, which ended September 1, 2017. It fell 6.3%.
Seadrill’s 2Q17 Costs Up and EBITDA Down
As the chart below shows, Seadrill’s (SDRL) vessel operating expenses fell $22 million from $243 million in 2Q16 to $226 million in 2Q17.
What Investors Should Know about Seadrill’s Latest Contracts
A company’s backlog helps gauge its future revenue. On August 24, 2017, Seadrill (SDRL) had a backlog of $3.1 billion.
Seadrill Gives Its Outlook for Offshore Drilling Industry
On August 24, 2017, Seadrill’s stock price fell to a new 52-week low of $0.15. The stock is down 94.4% from the start of the year as of August 29, 2017.
Energy Stocks: Last Week’s Top Losers
Between August 18 and 25, 2017, oilfield services stock Seadrill Limited (SDRL) was the largest loser among our list of energy stocks.
Seadrill Partners Resumes Its Dividend Distribution
Seadrill Partners will resume its dividend payments. It declared a quarterly cash dividend of $0.10 per share for the first and second quarter.
Seadrill Partners Stock Rose 17.9% in the Last Trading Session
Seadrill Partners (SDLP) stock closed at $3.15 on August 17, 2017. The stock rose 17.9% in one day, which brought its YTD (year-to-date) return to -25%.
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.
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.
Transocean’s Views on Offshore Drilling Outlook
Transocean’s long-term view of the offshore drilling market, especially for the high-specification floaters, is positive.
Why Ensco Expects a Spike in 3Q17 Drilling Costs
Ensco’s (ESV) drilling expenses were $291 million in 2Q17, down from $350 million in 2Q16 but higher than the previous quarter’s $278 million.
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.
US Offshore Drilling Rig Count Fell Last Week
In the week ended June 30, 2017, Transocean and Diamond were the only two stocks among the offshore drillers to give positive returns.
Atwood Oceanics: Analysts’ Recent Changes
According to Reuters, 23 analysts give recommendations on Atwood Oceanics. The stock has a consensus rating of three, which indicates a “hold.”
Oil Prices and Rig Count: Vital Offshore Drilling Indicators
For the week ending June 23, 2017, oil prices fell below $45 per barrel. Oil prices touched $45 for the first time in 2017.
Land Rig Count Rises 510; Offshore Rig Count Rises Just 1
The land rig count is 128.0% or 510 higher than the rig count in the same period last year.
Offshore Drilling Last Week: Stock Performance and Rig Count as of June 16
Last week (ended June 16), Atwood Oceanics was the worst-performing offshore drilling stock, while Rowan was the only stock among peers to see gains.
Analyzing Ensco’s Acquisition of Atwood
Last week Ensco (ESV) announced its decision to acquire Atwood Oceanics (ATW) in an all-equity transaction.
Chart of the Week: Phases of Offshore Drilling Lifecycle
Most offshore drillers released their first quarter earnings in May.
Will Seadrill Partners’ Dividends Continue in the Future?
In 2Q16, Seadrill Partners cut its quarterly dividends to $0.10 per share—equivalent to an annual distribution of $0.40.
Seadrill on the Street: Analyst Recommendations after the 1Q17 Results
According to data compiled by Thomas Reuters, Seadrill (SDRL) has a consensus rating of 3.5, which means a “hold.”
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.
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.
Why Seadrill’s Tendering Activity Matters to Its Medium-Term Outlook
Until an increased consistency can be seen in an upward trend of oil prices, many oil companies will likely remain focused on conserving cash.
Analyzing Seadrill’s Stock Crash and Recent Events
Seadrill’s (SDRL) stock price fell more than 84% from the beginning of 2017 to May 18, 2017. The stock fell more than other offshore drillers.
Inside Rowan’s New JV with Saudi Aramco
Rowan Companies has agreed with Saudi Aramco to name the new joint venture ARO Drilling.
Rowan’s Take on Offshore Drilling after 1Q17
In its 1Q17 conference call, Rowan Companies (RDC) shared its outlook on the offshore drilling market.
Understanding Rowan’s Latest Fleet Status Report
Rowan Companies (RDC) was the first among its peers to release its fleet status report this year.
Why Do These OFS Stocks Look Weak?
Diamond Offshore’s short-interest-to-equity float ratio is currently 40.7%—the highest among the OFS constituents of the VanEck Vectors Oil Services ETF (OIH).
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.
Ensco: Why 3 Analysts Revised Their Recommendations
Of the 35 analysts covering Ensco (ESV), three analysts gave “strong buy” recommendations, while eight analysts gave “buy” recommendations.
How Restructuring Affects the Offshore Drilling Industry
Bankruptcy protection does not mean liquidation, and the company is able to continue with its business operations.
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.
Which OFS Stocks Have the Highest Implied Volatility?
On March 14, 2017, Seadrill (SDRL) had the highest implied volatility among OFS companies that are part of OIH. Its implied volatility was 138.8%.
Why These Oilfield Services Stocks Could Mean Trouble
High short interest in stocks such as Carbo Ceramics, Seadrill, and Noble could explain why they also have high implied volatilities.
Seadrill May File for Chapter 11 Bankruptcy
Debt profile Seadrill (SDRL) has total interest-bearing debt of $9.8 billion. Of this, $3 billion is short-term debt. The remaining $6.6 billion is long-term debt. The company has a cash balance of $1.4 billion, which brings the company’s net interest-bearing debt to $8.5 billion. Restructuring update To weather the downturn, Seadrill is restructuring its debt. According to […]
Seadrill’s Backlog and Contract Updates
Backlog On February 28, 2017, Seadrill (SDRL) had a backlog of $2.5 billion, compared with $3 billion in November 2016. A company’s backlog helps gauge its future revenue. Backlog details Seadrill’s backlog for 2017 is ~$1.7 billion, which is just 52% of its 2016 revenue. If the company isn’t able to secure new contracts, its […]
Seadrill’s Outlook on Offshore Drilling
Conference call insights In this article, we’ll examine Seadrill’s (SDRL) 4Q16 conference call insights on current developments in the offshore drilling (OIH) space. In the call, the company expanded on its view of the industry’s future. Studying these developments can help us gauge the future of Seadrill, its parent company, Seadrill Limited (SDRL), and peers Diamond Offshore Drilling (DO), […]
Details about the Rowan-Saudi Aramco Joint Venture
Rowan Companies and Saudi Aramco entered into a 50-50 joint venture. The joint venture will own, operate, and manage offshore drilling rigs in Saudi Arabia.
Rowan Companies’ Take on the Offshore Drilling Industry
Rowan Companies shared its outlook for the offshore drilling market. Its view could also shed some light on the outlook for its offshore peers.
Transocean’s Backlog Offers a Picture of 2017 and 2018 Revenues
As of February, 2017, Transocean (RIG) had a backlog of $11.3 billion compared with $12.2 billion at the end of 3Q16.
CARBO Ceramics Fell and Impacted Options Traders
In the last four quarters, CARBO Ceramics’ revenue fell 48.8%. Its adjusted operating loss was $27.8 million in 4Q16—compared to $32.3 million in 4Q15.
Could These OFS Stocks Be a Concern for You?
CARBO Ceramics’ (CRR) short interest-to-equity float ratio is 28.6%—the highest among the OFS (oilfield equipment and services) stocks that are part of OIH.
Why Was a Drilling Permit Issued in December?
In December, one drilling permit was issued to drill a new well in the Gulf of Mexico. It was issued after a drought in permits for the last five months.
Onshore Rig Count Rose: What about Offshore?
For the week ending January 20, 2017, the US offshore rig count fell by one from the previous week to 24, while land-based rigs rose by 36 units to 670.
Offshore Drillers: How Their Backlogs Are Rapidly Declining
The offshore drilling industry has had low day rates and few or no new drilling contracts in the past year. Companies are alive mostly due to their earlier contracts.
Why Offshore Drilling Stocks Skyrocketed in the Last 3 Months
In this series, we’ll give you the tools to screen some key metrics for nine offshore drillers. It will be a good starting point.
Why Short Traders Should Look at These Oilfield Services Stocks
Diamond Offshore Drilling’s short-interest-to-equity float ratio is currently 30.5%—the highest among the OFS stocks that are part of OIH.
Which Oilfield Services Stocks Have the Highest Implied Volatility?
As of January 10, 2017, Tidewater had the highest implied volatility among the OFS companies that are part of the VanEck Vectors Oil Services ETF (OIH).
OFS Stocks with High Short Interest: Do You Own Any of Them?
Currently, Diamond Offshore Drilling’s (DO) short interest-to-equity float ratio is 30.5%. It’s the highest among the OFS stocks that are part of OIH.
Is the Offshore Rig Count Improving?
According to Baker Hughes (BHI), the number of offshore rigs in the United States at the end of November 2016 was 22, down one from the previous month.
Ocean Rig’s Stock Price Has Been Volatile in the Last 52 Weeks
Ocean Rig’s (ORIG) share price has been very volatile in the past one year. Its 52-week low and high are $0.66 and $3.38, respectively.