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Diamond Offshore's and Seadrill's Recent Annoucements Expose the Truth in the Deepwater Rig Market

Diamond Offshore (NYSE: DO  ) got quite possibly the biggest insult one can get this past week. Statoil cancelled a contract for one of Diamond's ultra-deepwater drillships because it simply wasn't up to the task of handling Statoil's demands. Combine that with the delayed contract talks with Pemex for a Diamond rig and the fact that Seadrill (NYSE: SDRL  ) just signed a five-year deal for one of its newbuilds for a whopping $605,000 per day, and you get an inkling on what is important in the rig market: rig specifications.

Find out more on how the quality of a company's assets are an accurate gauge for the future performance in the rig market today and why that bodes well for Seadrill, Pacific Drilling (NYSE: PACD  ) , and Vantage Drilling (NYSEMKT: VTG  ) by tuning in to the following video. 

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Tyler Crowe

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Related Tickers

9/3/2015 4:00 PM
DO $22.90 Up +0.68 +3.06%
Diamond Offshore D… CAPS Rating: ***
SDRL $7.26 Down -0.15 -2.02%
Seadrill CAPS Rating: ****
PACD $1.83 Down +0.00 +0.00%
Pacific Drilling S… CAPS Rating: **
STO $15.11 Up +0.09 +0.60%
Statoil (ADR) CAPS Rating: ****
TOT $45.53 Down -0.03 -0.07%
Total (ADR) CAPS Rating: *****
VTG $0.08 Down +0.00 -0.53%
Vantage Drilling C… CAPS Rating: ***