Everything I'm hearing is bullish...they are saying that they are seeing increasing demand for all types of rigs and are receiving increasing inquiries and even urgency for shallow water rigs. I've loaded up on ESV for a daytrade. They are now saying demand is good looking forward into 2014 and 15 and that GOM looks great in all respects.
that hammering occured as they discussed 3rd quarter predictions. They didn't lower estimates, but they did discuss expenses. I'm not familiar enough with the anticipated expenses to know whether or not the expense information implied a lowering of guidance or not. The traders didnt like it though as volume was high on that selloff.