Deepwater Drilling's Delayed Rebound and the Future of Offshore Energy ...Middle East

OILPRICE - Economy
Deepwater Drillings Delayed Rebound and the Future of Offshore Energy
source : OILPRICE ( Middle East ) () 97
A couple of years ago the offshore drilling-OSD, industry appeared to be on the cusp of a significant rebound. Shares of the big drilling contractors reached post-Covid highs as day rates for high spec, 7th Generation drill ships crested $450K. Positive cash flow began to accrue, and EPS forecasts rose, pushing share prices for these companies higher. It was as if the industry had turned a corner, and the prospect of a long-delayed offshore investment cycle was just ahead. The radius of the corner turned out to be a bit more obtuse than initially…

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