Ocean Rig Fleet Update Sinks Offshore Drillers

Ocean Rig UDW (ORIG) updated its fleet status last night, and the news was bad enough to sink other offshore drillers, including Seadrill (SDRL), Transocean (RIG), Noble (NE) and Ensco (ESV). And it certainly didn’t help that Ocean Rig’s CEO commented that the “market continues to remain challenging due to the massive spending cuts initiated […]