with all the rigs coming off contract and the un-contracted newbuilds, the whole sector will be in for a bloodbath soon as rates and utilization plummet. An idle deepwater rig will eat over $100k/day in cash.
I eggspect to make a chitload of $$ any day when xoma’s drug tests prove that it can cure zits and arthritis of the hand. I just hope that the test results don’t put zits on the hands of ‘ol farts and arthritis on the face of teenagers. If that happens, I won’t be earing lobster but will be scavenging the trash can at Red Lobster (ugh).