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#	AUTHOR DATE SUBJECT
32	member 8/12/16 10:39AM Time to revisit?
Apologies in advance re. leeching insight from Biff and snarfy, but was just wondering if it is nuts to be looking at the drillers now? Ocean Rig look to be throwing in the towel today... login to read the rest 1 view available tags
31	member 11/04/14 10:14PM Re: Re: Re: Re: RE: RE: RE: Fleet Status - downturn accelerating 30
Those Rowan Aramco contracts were basically placeholders to keep the rigs on rate for a few months until they're really needed starting a few months from now. Rowan is working on long-term extensions for those view available tags
30	member 11/04/14 8:52PM Re: Re: Re: RE: RE: RE: Fleet Status - downturn accelerating 29
Thanks for your response again. Just to delve in a little deeper: - These contracts were with the same operator (Aramco) so it is the relative move (75% increase) that I am focused on. I am... login to read the rest view available tags
29	member 11/04/14 1:26PM Re: Re: RE: RE: RE: Fleet Status - downturn accelerating 28
No. The previous contracts were done during a severe dip in 2011. More recently Rowan got better contracts and these are a step down. Also Aramco is well known to be more ........... errr relationship... login to read the rest view available tags
27	member 10/02/14 9:22PM Boat stocks
Do you have any view on the boat companies (GLF, HOS, TDW)? Does your long-term, bearish view on the rig companies translate to a similar thesis on the boat companies or are there enough difference view available tags
25	member 10/02/14 5:47PM RE: RE: Fleet Status - downturn accelerating 17
Biffins - You have been so right on these names so kudos. I wanted to ask a question. In this post, you said: "On an absolutely basis, everyone is still using P/B and P/NAV kind of... login to read the rest view available tags
23	member 9/17/14 2:44PM RE: RE: RE: Fleet Status - downturn accelerating 22
Thanks Biffins. view available tags
21	member 9/12/14 9:53PM RE: RE: RE: Fleet Status - downturn accelerating 20
Biffins, sorry if you took offence or just have no interest in talking options. My thought is that if any of the major drillers cuts their dividend before the end of the year or signals... login to read the rest view available tags
20	member 9/12/14 5:37PM RE: RE: Fleet Status - downturn accelerating 19
Let me ask the question a different way. I looked at the prices of the jan 30 through 27 puts and the apr 29 puts in sdrl, and the RIG jan 34, 33, and 32:: SDRL... login to read the rest view available tags
18	member 9/12/14 2:48PM RE: RE: Fleet Status - downturn accelerating 17
Have you given any serious consideration into using options? Most have Jan 15 and Jan 16 expirations, as well as something a little bit farther out than jan 15 (sdrl has april 2015)? Would love... login to read the rest view available tags
16	member 9/12/14 1:18PM RE: RE: RE: Fleet Status - downturn accelerating 15
So you are willing to hold for a very long time to see this play out. Are you saying that rig/do/esv could be single digits in a few years, or is that too pessimistic? I... login to read the rest view available tags
14	member 9/12/14 12:06PM RE: Fleet Status - downturn accelerating 13
You have been way ahead of the curve on this trade. Is it too late to intiate shorts at these levels, and where do you think the drillers ultimately trade? view available tags
8	member 8/18/14 9:37AM RE: RE: Contrarian View 5
Everdeen / Biffins Thanks for your thoughts. I think that the key problem here for me is that I have neither and appreciation nor a view for where we are and where we are going in... login to read the rest view available tags
2	member 8/16/14 1:15AM RE: Timing 1
Biffins – Thanks for your comments. Responses are below. I was hoping to see some new argument for why it's a good time to buy, but from reading your write-up it is still clearly the hope... login to read the rest view available tags

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			2014	2015
Price:	27.16	EPS	$3.25	$2.50
Shares Out. (in M):	254	P/E	8.4x	10.9x
Market Cap (in $M):	6,900	P/FCF	N/A	8.0x
Net Debt (in $M):	4,173	EBIT	1,200	1,000
TEV (in $M):	11,070	TEV/EBIT	9.2x	11.1x

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