Spinoffs have a deserved place in the heart of many a value investor. Coach
Before your inner contrarian gets too excited, let me just say right here that I don't consider Seahawk a very compelling investment opportunity.
Sure, compared with Hercules Offshore
That said, most drillers look good compared with Hercules. Ensco International
You can expect Seahawk's shares to be even more volatile than those of its peers, given the boom-bust nature of the shallow Gulf of Mexico drilling market. That will invite trading opportunities for those willing to try to time a recovery, but buy-and-hold types should probably skip this one.