interested on thoughts on RIG after Monday 3rd. I've held off on buying until now. A thesis I have is that we are going to see long term bifurcation in the offshore rig market, and the low spec and even 6G drillships are going to have lots of supply white space.
This is great because RIG at 4 is pretty much the only offshore driller that gives you exposure to the thesis now. But probably burns alot of the sector beta / TV assumptions people previously priced in.
if your interested, dm me. I have a day-rate quantitative forecast to prove point 1 above.
Valaris contracts rolling over might mean getting contracted at higher current day rates (since they signed deals when rates were not as high) and might be an opportunity. Curious to hear your thoughts! Great write up
$RIG MAY recap
1) 25% post earning run
2) PBR new Chief says moar offshore
3) Elliott buys $9.7mm
4) Insider buys $12mm
5) $SDRL merger rumor
6) Added to Russell 2000 Value Index
+positive market dynamics & all
interested on thoughts on RIG after Monday 3rd. I've held off on buying until now. A thesis I have is that we are going to see long term bifurcation in the offshore rig market, and the low spec and even 6G drillships are going to have lots of supply white space.
This is great because RIG at 4 is pretty much the only offshore driller that gives you exposure to the thesis now. But probably burns alot of the sector beta / TV assumptions people previously priced in.
if your interested, dm me. I have a day-rate quantitative forecast to prove point 1 above.
Valaris contracts rolling over might mean getting contracted at higher current day rates (since they signed deals when rates were not as high) and might be an opportunity. Curious to hear your thoughts! Great write up