Transocean Ltd. (RIG)

Grateful reminder:
Rochester predictions for 2022:
1. Expect RIG to continue to falter as long as the CURRENT MGT TEAM is in place. As the "invasion" simmers down RIG will DROP like a rock. I expect to see it back in the 3's.
CHECK.
2. Higher inflation and rising interest rates will continue to negatively impact the markets.
CHECK CHECK!!
3. RIG will continue to be "played" by major investors as a "Pump and Dump"
CHECK CHECK CHECK !!!
4. By the end of 2022 IF the RIG mgt team has not been replaced expect to see them much closer to BK.
CHECK CHECK CHECK CHECK !!!!
5. Remember, in December 2021 I predicted RIG BK within 2 years (December 2023) UNLESS the current mgt team is replaced. I see nothing to change my position at this time."
CHECK CHECK CHECK CHECK CHECK !!!!!
So Grateful, EVERY single one of the above is proving 100% CORRECT for 2022 while YOU are still UNDERWATER here!!!
FIVE for FIVE!!!
Just the FACTS.
Read em ad WEEP.
HAHAHA!!!

Gas prices: 62% of Americans plan to vacation, most driving domestically: Survey
More than 60% of Americans plan to take a vacation this summer, but most will do so domestically, according to a Yahoo/Maru Public Opinion Survey.

The study of 1,509 adults found that two-thirds, or 62% of respondents, plan to take a vacation between now and September 1, while 38% said they won’t.
Ines Ferré·Markets Reporter: Fri, May 13, 2022, 2:27 PM
$CDEV $LPI $RIG

The contracts were awarded for four anchor handling tug and supply (AHTS) vessels and remotely operated vehicles (ROVs).
The vessels, Skandi Angra, Skandi Paraty, Skandi Urca and Skandi Fluminense, currently operating for Petrobras and equipped with DOF Subsea’s work class ROVs, have been contracted for three years firm plus two years options with Petrobras.

According to DOF Subsea, the gross value of the contracts, scheduled to commence in Q4 2022, is approximately $260 million.

These are the vessels with the crew of 20. Can’t even compare with a drillship when it comes to costs but it is sign of good recovery of day rates. $36 000 per day is good day rate for these vessels

FYI:
Options expire on Friday.
Today could be as good as it gets this week.
I
$RIG $CDEV $LPI

the oil went up because of lack of investments, 30% of the oil comes from offshore and most of the oil reserves at the bottom of the oceans. we have 25 years of supply of cheap oil. we will still need lots of oil after we start to drive electric cars next year!( u wish) last 10 years no major offshore investments done. we lost experienced workers and probably stop investing the technology as well. building new ships super expensive and probably will take time. getting in to new supply will take time. with out the war in Russia , I was thinking 2023 is a turning point for RIG. It will be either go 30s or bankrupt. the new contracts with current active rigs will be much higher but is it really enough to pay the debt on time. No business in the planet can survive 8-9 years and keep losing money. 2023 is the year the fog will clear. good luck.

A 7 million barrels released from SPR “Emergency Reserve for Emergencies?”

Crude: +1.618M
Cushing: +0.092M
Gasoline: +0.823M
Distillates: +0.662M

I saw a major draw! Love a good depletion!

$BTE $OXY $CPE $RIG $OIH $SU $XOM $CVX $EOG $CNQ $LPI $CLR $CDEV $CPG $ATH $CNQ $USO $VET $PBA $MUR $PVL $KRP $BCEI $ERF $TPL $CPK $OMP $EGY $USO $NRGU $CNQ