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$66.97 -3.39 (-4.82%)
11/19/2008 4:02 PM

Transocean, Inc. (RIG)

CAPS Rating:
*****

The Company is an international provider of offshore contract drilling services for oil and gas wells. Its primary business is to contract the drilling rigs, related equipment and work crews primarily on a dayrate basis to drill oil and gas wells.

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Recs

4

Avatar Georgeh260 (< 20) Submitted: 8/18/08 11:26 AM : Outperform Start Price: $125.53 RIG Score: -9.53

Conversion of energy sources from carbon "mining" to renewables will take more than a generation. We will be drilling for oil until we reach the last findable drop at huge unit prices just to deal with antique legacy requirements. The largest untapped sources of oil today lie under water and RIG is the leading deepwater driller. The costs of duplicating RiG's current asset base of ships and equipment is enormous - a substantial moat for competitors. It's day rates will rise, it's earnings, already visible compared to even the recent past in the drilling industry, are becoming predictable. PE's will expand as a result. The "perfect strom" for stock price increases looks to continue for a while.

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