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IBDvalueinvestin (99.66)

Buy today's dip in Deep Offshore Drillers, Dayrates trend says higher levels coming.



March 19, 2012 – Comments (1) | RELATED TICKERS: DO , RIG , PACD

The IHS Petrodata Day Rate Index for deepwater semisubmersible rigs worldwide rose significantly to 897 points over the last month, an increase of 86. This rise in day rates was enough to boost the index to its highest level since April 2009. Fleet utilization for this category of rig remains extremely high, averaging 98% this month, a 1% increase.

The IHS Petrodata Day Rate Indices track the movement of competitive mobile offshore drilling fleet day rates and utilization for four rig categories. Day rates are charted as an index with the average market day rate in January 1994 equal to 100. Utilization is the percentage of contracted rigs out of the total competitive fleet supply. The data is updated on the third Friday of each month by IHS. Additional information is available from the IHS Petrodata team in Houston, Aberdeen, Oslo, Dubai and Singapore.

Read full article on Day Rate Index IHS

1 Comments – Post Your Own

#1) On March 19, 2012 at 10:01 AM, IBDvalueinvestin (99.66) wrote:

Hearing Transocean (RIG) will have to pay (PACD) parent company Quantum Pacific in shares at discount of $49.69 or cash by March 29th, 2012 as reported in 8K filing, but who has time to read 8k filings these days lol?


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