The sell-siders at Bank of America's research arm made quite the splash last week. Not only did they initiate coverage on offshore rig king Transocean
You'll have to forgive me for thinking that we were all on the same page. As my readers know, I'm probably as bullish on the deepwater dance as the next guy, but it was my understanding that ongoing offshore strength had become the consensus view. For that reason, in my third-quarter review, I expressed skepticism regarding hidden value in Transocean's stock.
The shares have run up significantly in the interim, and it looks like I was just plain early in pegging this pillar of oilfield services -- second only to Schlumberger
I'm talking about Petrobras'
No, that would be years. As in 10 rigs, working around the clock, for 2.5 to five years each -- or 25 to 50 years' worth of drilling. Combine this outlook with the oceanic exploits of Marathon Oil
- This driller's iron doesn't look quite as hot to me.
- This subsea specialist also benefits from a dynamic deepwater.
- Here's a broader look at the oil patch in 2008.
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Fool contributor Toby Shute is on vacation, sampling blaufrankisch in the fatherland. He doesn't have a position in any company mentioned. The Motley Fool's disclosure policy stretches to the farthest frontiers.