Trico Marine Services, Inc. (TRMA)

Company has resolved short term liquidity issues and (hopefully) will continue to reduce debt with proceeds from asset sales. Subsea services is a stable niche in oil services sector. Increasing revenues/earnings should follow increasing demand for oil as economy recovers.

.6

Trico Marine Services is certainly in a beaten down industry. Oil Services. Many of these equities have hit bottom, rebounded up and dance with the price of oil. Trico has sported a negative P/E and negative margins the last few quarters. My confidence and upthumb is due to their recent signing of new orders and their cost cutting. While you can't cut your way to profits over the long run, the dip drilling and capex by the oil companies is temporary. Stockholder equity has been rising the last three quarters and revenue is picking back up. Trico's three divisions, (hence the name?) include Subsea Services, Subsea Trenching and Protection, and Towing and Supply. The Trenching and Protection group have seen the best orders/backlogs. Projects include both new and decommisioning, internationally and in the US. Overall, it's hard to recommend an oil services company, but with large insider ownership, a strong international prescense and tenured management, I'm willing to give them a chance.

Oil will rebound

insider buying

finally ratable. long term i expect shippers to do well once the inevitable inflation causes commodities to rise which will in turn increase shipping rates..

Oil may be deep in to it right now, but long term as the world economy pulls itself up by it's bootstrapes, oil will make a comeback. Alt energy is wonderful, but it will take many years for it to make a significant dent in the use of oil. The days of easy extraction of oil are gone and some of the petroleum resources ie oil shale will require prices above $80 long term to exploit them economically. Oil fields around the world are showing decreases, some major, in their output. I am also convinced that OPEC is actually seriious this time about toeing the line on production reductions to try to drive the price of oil to the $70 mark or better. long oil 10 to 20 years!!

Expensive according to my calculations.

bear markets maul all stocks.. good and bad...I do not own this stock

Timing - it's a major issue these days

Good Acquisitions of Deep Ocean & Sub Sea. Insiders bought in the last 1 month. Deeply undervalued - Trading at approx EV of $850 Mill , which is what they paid for both the acquisitions and which is less than 4X of EBITDA.

Overabundance of newer supply boats owned by competitors in the industry. They are late to the party for deepwater support. They have a more difficult time than most companies keeping qualified mariners on their boats which says a lot about the condition of the equipment and management.
No, I have never worked for Trico.

Go long!

They just bought deep ocean and will be a major player in deep water well construction services. As such they deserve a higher multiple. Debt is an issue, they used a convertible to finance the acquisition which will not help the stock in the short term, but long term this company is positioned in a sweet spot.

Down - appropriately - on aquisition offer for DeepOcean. Lots of risk, but I think this is a huge strategic play. Truly seizing the moment - with shifts toward deepwater oil and shortage of support ships, they'll be in a couple of sweet spots in oil services. DeepOcean board supports the bid. Large majority of their revenues are already outside US.

I seriously doubt oil and gas prices will continue to trade at these lofty prices but even if they retreat considerably as I suspect they will firms will continue to drill to access reserves. Very profitable proposition even at $80 oil.

Had a recent pullback. I think this one will rebound. They are a good earner.

Trico Marine Services is a small cap United States Marine Oil Drilling company based out of Texas, but with wholly owned subsidiaries in the North Sea, West Africa, Brazil, and Mexico. Its fleet is growing at the right time and with a market cap currently at a little over 535million it looks like a great growth story given the energy crisis the world is going through.

Not only will marine supprt vessel for offshore oil and gas continue to be needed, but alternative energy techonologies and look to the seas to site their projects, thus new markets will open for this service.