Offshore Drilling (Update)

Industrial/Transportation


Please note, this is an update to Short - Offshore Drilling, which was originally presented on May 16, 2014.

Publicly traded companies mentioned herein: Anadarko Petroleum Corporation (APC), Diamond Offshore Drilling Inc (DO), Ensco (ESV), Gulf Marine Services PLC (GMS LN), National Oilwell Varco (NOV), Noble Energy (NBL), Seadrill (SDRL), Slumberger Ltd (SLB), Transocean (RIG)

Highlights

The presenter said he is sticking with his short positions in Transocean (RIG), Seadrill (SDRL) and Ensco (ESV), and added that another interesting company exposed to the decline in offshore capex is London-based Gulf Marine Services (GMS). GMS operates support barges and vessels for offshore accommodations, well maintenance, and other drilling support services. However, he cautioned that GMS is a smaller cap company and is relatively thinly traded.

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Idea Discussion

Commentor 1 - 2 weeks ago

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