Oil prices are coming back to life. Global demand is soaring on the back of booming global GDP growth and oil inventories are plummeting even during winter which is a historically slow period for demand. As oil prices and the cash flow of oil companies rise, oil producers will inevitably return to offshore with its long life assets. In this environment, offshore drillers are set to outperform. Even....More>>>
Source: ThinkstockAugust 16, 2017: The S&P 500 closed relatively flat at 2,468.16. The DJIA closed flat at 22,019.53. Separately, the Nasdaq closed up 0.2% at 6,345.11.
Wednesday was a mixed day for the U.S. broad markets. Crude oil continued to pull back from the $50 price level and oil & gas stocks did not respond well. Separately, retail stocks were more or less positive....More>>>
Go back a year, and offshore drillers like Noble (NE), Rowan (RDC), Transocean (RIG) and Atwood Oceanics (ATW) had been all but written off–until they weren’t anymore. Since then, investors have been rewarded for picking winners in the group from the losers, as Atwood Oceanics has more than doubled, Transocean has gained 34%, and Rowan has risen 42%, while Noble and Diamond....More>>>