Rumours AGAIN : is Seadrill in of Buying Pacific Drilling ?
The first reason to be bullish on Pacific Drilling is the company’s fleet. Pacific Drilling has 100% of its fleet as high specification ultra deep-water fleet as compared to 84% for Ocean Rig. A modern fleet means that the company has an edge over peers when the offshore drilling market recovers. Currently, decline in oil prices is a major concern for the offshore drillers. However, I believe that oil prices will bounce back soon as global geo-political tensions are oil price supportive.
Is Pacific Drilling a takeover candidate?
Bloomberg Business earlier reported that the offshore drilling contractor Pacific Drlling was being looked at by Transocean, Ensco and Seadrill as a potential takeover candidate.
Who is buying in now !
Jun 17 - Close
NYSE real-time data - Disclaimer
Currency in USD
Range 8.10 - 8.83
52 week 3.00 - 39.60
Open 8.10
Vol / Avg. 283,995.00/346,152.00
Mkt cap 201.15M
P/E 24.90
Div/yield -
EPS 0.34
Shares 22.55M
Beta 2.73
Inst. own 15%
