In the wake of Wednesday's big splash from Total's
First up, we have Superior Energy Services
That's partly thanks to Thursday's gigantic contract award to decommission wells for BP
Offshore driller Atwood Oceanics
But while its near-term earnings power is unchanged, Atwood's business value is enhanced with the addition, so long as you believe -- as I do -- that deepwater rigs will be earning good rates of return in 2011 and beyond. I've written about being unimpressed with Atwood's fleet, and I'm happy to dial back my bearishness in the light of this excellent news.