Someone here telling lies.
It will make the shale oil plays cease to be profitable. Already pulling rigs like crazy.
Where do these liars come from?
They sell the only vessel with any value then lose a grand a day on the lease back.
No, They are OUTSTANDIND, not waiting to be exercised. Read the portion of the prospectus that shows the many conversions for the multi millions of shares.
New liar on the board.
And deep sea drilling rigs are NOT all that plentiful. 6 rigs is several percent of the total.
If so, that will put the back log at around $30 billion.
Man, for a dead industry, they sure earn a boatload of money.