Entering text into the input field will update the search result below

Recommended For You

Comments (12)

PapaWhisky profile picture
I thought this was interesting:

“we do see the inflation in both salaries, wages and in some – from some of our vendors. All of our long-term contracts have protection.”
Henrik Alex profile picture
Today's conference call alleviated most of my concerns. There are still some uncertainties with regards to the CAT-Ds but management was optimistic on extending the credit facility which is of utmost importance.

Upgrading shares back to buy. Article should be out tomorrow.
kingRIG2.0 profile picture
@Henrik Alex you finally see what the rest of us see, all aboard
@kingVRX Actually, what has been obvious for some time.
best part of the call was this response - we’ll stated!

“The underlying fundamentals and the lack of investment in oil and gas developments over the past 7 years are what drove the commodity prices up towards that $90, $100-barrel mark prior to all that. So if you take that out of the equation and you don’t think that, that upset is going to happen on a long-term view, so you’ve got to be a bit more conservative if you do that. We look to the demand that’s being created around the world. So everyone has had the discussions directly with the customers that there is less tendering going on. There is more direct negotiations as customers seek out to get just the right asset for them. But it’s interesting. The move by Petrobras to issue tenders for up to eight rigs just at this moment in time, in addition to the tenders they already have out there. Brazil, for example, has already awarded five rigs this year. And with these new tenders that are out, they are expected to award an additional 16 potentially in the remainder ‘22.

So, if you think about it in that context, it seems like an unprecedented move. It seems like that is now going to be a huge pull on the active supply. And in fact, it’s going to necessitate some reactivation of rigs because there simply aren’t enough rigs to meet that demand. But I have to tell you, I don’t think it is unprecedented. I think this is Petrobras’ contracting philosophy. I think this is the ultimate barometer of how strong this market is going to be and for an extended period of time. In previous downturns, as you come into the upswing whenever you see Petrobras go along, that tells you that they are locking in capacity because they see the writing on the wall in terms of availability. So, look, it appears unprecedented, but it’s not. I mean I think this is truly the barometer that says drillships are going to be in very strong demand for many, many years. In fact, those tenders in Brazil are – I think the average is about 3.5 years firm, but with 3 years, 4 years of options. “
Crazy times are coming!!!!
@polostarw Not crazy. It was all predictable.
It seems that good things have been said about the future of the company for the rest of the year and many years to come.
@rm33 I sure hope so
kingRIG2.0 profile picture
@rm33 there best days are ahead of them but we gotta wait, 2,3 more quarters
Rgarga profile picture
@kingVRX well the stock is down significantly again. Bought more...
To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!

About RIG

SymbolLast Price% Chg
Market Cap
Yield (TTM)
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on RIG

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.