SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Offshore Drilling
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: JGreg who wrote (6)9/16/1996 12:07:00 AM
From: Bill Hyres   of 15
 
Greg & All, I find your posts here verytimely for me. I am in an Investment Club and we are currently doing research on this area so we can enter this area with a stock purchase. I have two due dilly packages in front of me and have been studying them all weekend on GLM & RDC. Couple of comments from my readings are that in the GOM day rates have risen from 25000 to currently 35000. Yes from what I have read they will continue to use existing rigs for drilling. Speculation from RDC is that new rig demand will probably pick up in late 97. It would seem that RDC will benefit with this due to their timely purchase of the LeTourneau rig manufacturing facility awhile back. They are currently building their new Gorilla V rig. This will be a deep water rig that should bring a day rate of 140000 per day.

One of the interesting valuation charts I reviewed involved the current share price of many of the drilling stocks are still trading at a discount as compared to replacement value. They compare Total Cap. Value vs Total Replacement Value and the majority of these drillers are still below replacement value. One clue for my long term research. GLM was the only stock that showed higher Capital value vs Replacement value. They were at 116.7%. RDC was at 72.8%. My club meets in a couple weeks so I am going to tell them about this location. Hopefully they will pick up some sage advice.

Nice to see this thread start up. Bill
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News