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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: Douglas V. Fant who wrote (21267)5/3/1998 11:48:00 PM
From: Timelord  Read Replies (1) | Respond to of 95453
 
Doug, glad you enjoyed the oldtimers reference...

RDC may be "undervalued" right now because most of their 20 jack-up rigs operate in the GOM and North Sea in the 300' water depth that has been reported to have the greatest softness in day rates. Also, they are building three "Gorilla" class rigs on spec with no contract commitments, which is contrary to the trend of most of the operators to have firm commitments for their newbuilds. Last Edgar 10K filed in March has all the relevant data.

Alex