Contract driller ENSCO International
To understand why, just take a gander at the latest quarterly results. Dayrates were goosed nearly 9% higher compared to last year, and a bit shy of 3% sequentially. While the deepwater rig drilling for Chevron
I've talked repeatedly about ENSCO's top-shelf margins, so I won't belabor that point. We've also looked at shipyard days and how they affect operators like Pride International
Finally, it's worth noting that a good amount of that cash is going to be staying with shareholders, thanks to a very low tax rate. Both for the first quarter, and as expected for the full year, ENSCO and Noble Corp.