Clear and clam night on the North Atlantic, the moon shown down on the unusually still and glass like seas, as the great disaster unfolded before us. The bow titled down and the massive stern rising out the ocean. As we pulled hard on our oars moving farther away, we tried hard not to look at the unrelenting calamity taking hold. But as hard as we tried to avert our eyes the more it seemed we had to look. Then, a calamitous noise could be heard in the night, the sirens of sea calling, BUT THE Divideeeend. Then .......GLUG GLUG GLUG !!!
We have a seller he's been here for a few weeks, is it the NG storage news, are we being pair traded against something... who knows, but I wasn't kidding about my 5.45 buy. I did say a long long time ago if we see 5.25 again it will be a total gift. IMHO
Well why I'm at it...;)
Paal Kibsgaard: Well, I think if you're looking at the short-term actions they're taking today, they're looking at bringing the deepwater rig rates down. I mean, if you look at what's happened on deepwater day rates over the past three years, four years, five years, they have increased significantly, and they have been completely disconnected from the other deepwater oilfield services, right?
So today, the rig rental makes up around 50 percent of the deepwater well costs. So our customers have really been looking for the opportunity to get the rig rental rates down. And the opportunity is here in the form of the high number of new arrivals, old expiring contract expiring, and a significant activity reduction in Brazil. So, I think this is the opportunity in the short-term they're trying to get some relief on cost.
You can figure out who Kibsgaard is:
LOL, If you are a owner of this company, you have been tattooed 20 -30 % from its highs. I wouldn't be testing others who are up 8 bucks and counting. If people looked at the charts in the last 10 day, as I said, they would have saved 10%. And yes, I'm not some guy who is paid top dollars to sit around and do research all day, I just read from dozens of sources and draw my own conclusions. So wipe-hool cuttin and a pastin is just fine with me. That and the 16 K in my pocket.
Good Luck ! At least you seem to have " YOUR EYES OPEN ". NG has been in a longer term down cycle, I just feel the drillers are on the front end, whereas NG is much futher along. Heck the shipper are probably are value state.
I would rather buy Linn than this highly levered driller heading into a cyclic down turn. The Fed might just save your bacon for awhile longer, but this puppy is gonna slip " INTO DEEP WATER " sooner or later.
We are reducing our EPS estimates based on Ensco’s September Fleet Status Update. The report featured several negative datapoints (stacked floater, newbuild delay, idle jackups) Do we see a pattern DO WE !