Excellent insights I had not considered for RIG relative to VAL, NE. Makes sense, while other drillers were going through bankruptcy, it actually made RIG more attractive for future contracts. From Q3 releases it seems the sentiment is starting to shift on day rates picking up.
How long are you long do you think this trade might take to pan out, 12-24 months?
Great article, i've read it a few times since it was first published as I keep adding to my position on pullbacks. Oil is going to $100+ by 2023 that's for sure we are already seeing OPEC struggle with their supply. I look forward to your future articles. Thanks.
01AUG2022. Contract extended for $440k/day (2 years)
02AUG2022. Contract extended for $430k/day (5.8 years)
I would say it is time to revisit. They are still losing money, but still selling for roughly the same price...
You should write an update to this piece. In many ways the thesis is playing out although the price has really not cooperated.
Excellent insights I had not considered for RIG relative to VAL, NE. Makes sense, while other drillers were going through bankruptcy, it actually made RIG more attractive for future contracts. From Q3 releases it seems the sentiment is starting to shift on day rates picking up.
How long are you long do you think this trade might take to pan out, 12-24 months?
Great article, i've read it a few times since it was first published as I keep adding to my position on pullbacks. Oil is going to $100+ by 2023 that's for sure we are already seeing OPEC struggle with their supply. I look forward to your future articles. Thanks.
Great work, great write up and a deep understanding of the industry and its dynamics. Thank you for this
Solid write up. I'm adding to my stack.
Absolutely. RIG is the ONE!
Fantastic write up.