Offshore Drillers: Too Many Rigs, Too Little Pricing Power
November 25, 2015 at 14:59 PM EST
Evercore ISI’s James West and team contend that there are still too many rigs among the offshore drillers, which should “keep pricing power in the operator’s hands for some time.” He explains: Associated Press Brent oil is up 6% from recent lows, but offshore-related names have underperformed the U.S. land-levered subsectors despite further declines in the […]