Offshore Drillers: Recovery ‘Further Off Than Expected’

Susquehana’s Charles Minervino and team argue that a recovery in offshore drillers like Transocean (RIG), Diamond Offshore Drilling (DO), Atwood Oceanics (ATW), Rowan (RDC) and Noble (NE) “may be further off than expected.” They explain why: Bloomberg News We previously believed that an acceleration in the rate at which rigs are being cold stacked or retired [...]