Deepwater Driller Plunge: Modern Drillers
In a previous article, I explored the bifurcation in the deepwater drilling sector with a focus on the legacy stocks having older rigs not suited for modern exploration demand. This article will focus on the group of modern rig operators not facing the issue of rigs over 20 years old.
Analysts are negative on the whole sector, though the modern drillers – Seadrill Limited (NYSE: SDRL ) , Ocean Rig UDW (NASDAQ: ORIG ) , and Pacific Drilling SA (NYSE: PACD ) – are in the attractive position of having modern drillships replacing older rigs operated by the legacy drillers.
Read the full article here.
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