Power Hedge
Macro, energy, alternative energy, contrarian

Ocean Rig's Modern Fleet Gives It A Competitive Advantage Over Peers

In several recent articles, I have discussed the preference that many oil and gas companies have expressed for modern offshore drillings rigs to use in their respective offshore drilling projects. This gives a competitive advantage to offshore drilling companies that own and operate fleets consisting primarily of modern drilling rigs. One company that fits this description is Ocean Rig (NASDAQ:ORIG), whose fleet is made up primarily of sixth and seventh generation ultra-deepwater drilling rigs with some older (but still relatively modern) fifth generation rigs thrown into the mix for good measure. This article will look at the rigs in the company's fleet and will examine how it compares to the fleets of other companies known for the quality...

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