Offshore Oil Services: Is It Time?

Deepwater Day Rates Head Higher & Borr Dramatically Improves Their Contract Book

There has been a wave of new contract announcements across the offshore drilling sector in recent weeks. Things are getting very interesting with the current setup for the oil market in my opinion, along with the continuing improvement in the business fundamentals. If you look at the horizon for offshore, I think now is a good time to be looking at the sector and potentially adding to investments if you have a three to five year time horizon. Transocean RIG 0.00%↑, Valaris VAL 0.00%↑, and Borr Drilling BORR 0.00%↑ all announced updates with new contracts at higher day rates. I think it’s a pattern that is set to continue over the next couple years, and I’m planning to continue to add exposure to the sector in coming weeks.

Transocean: Breaking $600k Day Rates… Maybe