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

Summary by Oil Price

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 inve…

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

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 inve…

16 hours ago·London, United Kingdom

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Oil Price broke the news in London, United Kingdom 16 hours ago on Saturday, February 22, 2025.

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