Just bought another harsh environment jackup (under construction complete in 2011)from bankrupt company. Rig being built in Singapore and it is being suggested that it already has a 5 year contract in Norway. This Company is way oversold and is fast becoming a major force in the industry.
as reflected by the price, ignorance will prevail. It must be that 'investors' don't understand the drilling ban is GoM, not ROW. SDRL has the only other rig that is currently drilling in GoM, one of the relief wells for bp's leaker. The rest are contracted outside GoM with some very lucrative long term contracts. I suppose this should be looked at as a buying opportunity.