Although the length of the Triumph contract was a bit shorter than I was anticipating\hoping for, on the bright side, the day rate has been established and the rig will be under contract when Resilience goes online, and that HAS to be a good thing.
Rynd: "Our initial contract for the Hercules Triumph demonstrates the strength of demand worldwide for this quality of rigs. We look forward to working with the operator on this opportunity, and are in discussions with several operators about follow on work for the Hercules Triumph as well as work for the Hercules Resilience..."
It'd be great if HERO locks up a contract on Resilience sooner rather than later, ideally before November, no?
Good news really, even the management said to look for longer period contract, in reality such a high day rate customers like to do the job asap, in and out of it.
And for us, we can not expect more than 300 days in a year contracted, even maintenance is zero, but idle time should be significant.
But HERO is in its all time high price, should move on from here. I have waited for the longest time since when??? I think it is time for pay check. The next question will be to sell a year from now or longer?
I often sell too early, now I learned. When HERO is making money, it can invest more or pay down debt, either way making money enble HERO to make more money...... and thus, it takes times to play out the positives. I am going to be a long long this times.
What is your target? I do not have one yet. Maybe $20 not using any data, sort of a mind-value.