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The Company provides contract drilling services to the energy industry around the globe and deals in deepwater drilling.
Less competitive mid/deepwater fleet is going to be hit disproportionately hard by the Gulf of Mexico moratorium + its spillover effects in other markets.
You may have been on to something for a few months while the publicity on this one was high, but I'm guessing that the momentum is gong to shift the other way once oil starts hitting $100+ per barrel (which is probably in a few weeks / months). You may want to close out this rec while you are still green.
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