VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[sludgehound]

RDC running offshore oil driller

http://finance.yahoo.com/news/3q15-predictions-rowan-companies-offshore-140010462.html

Oil prices and offshore drilling
Rowan Companies (RDC) is a leading offshore drilling company. Its stock price has fallen almost 27% since the beginning of the year, echoing the fate of many of its competitors.

On August 31, 2015, the price of Brent crude oil touched $54 per barrel, recording an almost 8% gain from the previous closing price of $50.05 per barrel. Unfortunately, Brent crude oil didn’t sustain this price level for very long—its price dropped to $49 on September 7, 2015.

The offshore drilling (OIH) industry is highly influenced by oil prices. Oil prices affect the drilling rates that exploration and production companies are willing to pay for drilling services. Consequently, it’s been a tough year for offshore drilling companies like Diamond Offshore Drilling (DO), Noble (NE), Atwood Oceanics (ATW), Seadrill (SDRL), Pacific Drilling (PACD), Transocean (RIG), and ENSCO (ESV).


Actuals vs. estimates for Rowan Companies
Rowan (RDC) has beaten the market estimates for EBITDA (earnings before interest, taxes, depreciation, and amortization) as well as revenue. The company reported 2Q15 revenues of $508 million, compared to analyst estimates of $506 million. Similarly, reported EBITDA was $228 million, against the analyst estimates of $223 million.

What you’ll learn in this series
In this series, we’ll take a look at Rowan’s 2Q15 results and conference call highlights. To gauge the company’s future, we’ll analyze its current position, management’s future plans, and discussions between management and analysts. We’ll also consider management’s outlook for the industry.

About Rowan Companies
Rowan Companies (RDC) is a global provider of offshore oil and gas drilling services. The company focuses on high-specification and premium jack-up drilling rigs and high-specification ultra-deepwater drillships that are used for exploratory and drilling services. It owns and operates a fleet of 32 offshore drilling units, comprising 28 jack-ups and four ultra-deepwater drillships. The company is present in the North Sea, the Middle East, the Gulf of Mexico, Southeast Asia, and West Africa.