Atwood Oceanics nabs drilling services contract for rig

Despite news that Atwood Oceanics (ATW +0.4%) found work for its semi-submersible Atwood Hunter for drilling off Equatorial Guinea, offshore drillers aren't enjoying the same boost they received yesterday from fleet updates provided by Ensco (ESV -0.6%) and Diamond Offshore (DO -0.6%).

Cowen analysts view the contract as a positive since it fills a good portion of the gap in ATW’s remaining 2014 availability; should the Hunter option be exercised, the only rig in ATW’s fleet with 2014 availability is the jackup Atwood Mako, which completes a contract in November.

Also today: SDRL -0.4%, RDC -0.1%, HP +0.8%, HERO +0.7%, NADL +1.4%, ORIG +0.4%, PACD -0.1%.

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Comments (3)
  • Bob Curtin
    , contributor
    Comments (106) | Send Message
    Come on guys, we should be paying attention to the negative views of the analysts not those contracts that are being executed daily. What is real, contracts or opinions?
    19 Jun 2014, 12:35 PM Reply Like
  • A Prudent Investor
    , contributor
    Comments (1192) | Send Message
    The analysts are concerned about the excessive number of uncontracted new builds coming online.
    20 Jun 2014, 03:48 AM Reply Like
  • Royce Ferguson
    , contributor
    Comments (9) | Send Message
    How about the excessive number of humans, automobiles, and drivers coming online all over the earth.... My guess is that their demand will be satisfied by all these new builds and contracts. Still seems that demand is first consideration. Go long.
    22 Jun 2014, 02:45 PM Reply Like
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