What are the Energy Deals of the Day?admin
The answer to the title question is that the best deal in the sector of energy today is the one which is undone. However it does nor necessarily mean that the Transocean shereholders has nothing to proud of. The company has just scored fresh contract of four from Petrobras. Generally every single contract of Offshore drilling stretches from five to six years with the total of 22 rig years. So in total, the arrangements add up approximately $3 billion to Transocean’s ever-ballooning backlog.
In the past few years Rig availability in the deep water has been increasingly very tight. Such phenomena led some explorers like Chevron and Anadakro work very hard to secure rigs for the upcoming drilling programs. In this case Petrobras has done a very good job by single-handedly keeping the market tight well with an extreme ambition of offshore push.
The trends keeps going as Precision’s offer of $10 per share still stands. Grey Wolf published that the company hires a banker for strategic alternatives evaluation.