Offshore Drillers: Don’t Get Your Hopes Up

Susquehanna’s Charles Minervino and team worries about offshore drillers like Transocean (RIG), Noble (NE) and Ensco (ESV). They explain why: Lucy Nicholson/Reuters Contracting activity during 1Q15 was notably muted, with only 9 contracts on floating rigs and 28 contracts on jackups signed during the quarter, compared with 31 contracts on floating rigs and 78 jackup [...]