Over the past eight months, a number of articles have appeared on The Rational Walk related to the Deepwater Horizon disaster and related investment opportunities. Value investors know that times of stress and uncertainty create opportunities in the financial markets ...
Noble Corporation Chairman and CEO David Williams believes that uncertainty in the Gulf of Mexico will continue to impact the offshore drilling industry for some time to come. Mr. Williams, speaking today at the Barclays Capital Energy and Power Conference ...
Munich Re has announced plans to introduce insurance products designed to address the large losses that can arise from major events such as the Deepwater Horizon disaster. The insurer hopes to introduce coverage levels of about $10 billion to $20 ...
According to The Wall Street Journal, scientists have estimated that 62,000 barrels of oil per day, or approximately 4.9 million barrels in total, leaked into the Gulf of Mexico due to the blowout of BP’s Macondo well. Estimates have varied ...
The six month moratorium on exploratory deepwater drilling the Gulf of Mexico is continuing to heavily impact the economy of the Gulf Coast. Despite two court rulings, the federal government is continuing to insist on a complete halt to deepwater ...
At a recent presentation at the Aspen Ideas Festival, one of Shell's experts on deepwater drilling suggested that flaws in the design of BP's Macondo well were likely responsible for the blowout that led to the massive oil spill in ...
The Wall Street journal has reported that Exxon Mobil, Chevron, Royal Dutch Shell, and ConocoPhillips are planning to announce the formation of a joint venture to design, build, and operate a rapid response system to address the impact of a ...
Noble Corporation recently announced second quarter 2010 earnings of $218 million, or $0.85 per share. The results were negatively impacted by a combination of lower utilization for the overall fleet and sharply lower average dayrates. As a result, contract drilling ...
Although the massive oil leak in the Gulf of Mexico has been reduced to a trickle based on successful attempts to finally cap the well, the permanent solution to the crisis will only arrive upon completion of the relief wells ...
Brazil is aggressively pursuing deepwater oil discoveries and recently began production on the country's first commercial deep sea platform. Brazil's deepwater wells are typically deeper than wells in the Gulf of Mexico and entail more technical difficulties. The Financial Times ...
In this article, we profile Diamond Offshore, one of the leading companies in the deepwater drilling industry. In previous articles, we focused on two companies in the offshore drilling industry with lower risk profiles. Both Noble Corporation and Ensco plc ...
U.S. District Judge Martin Feldman overturned the Obama Administration's six month deepwater drilling moratorium this afternoon citing the "immeasurable effect on the plaintiffs, the local economy, the Gulf region, and the critical present-day aspect of the availability of domestic energy ...
Most of the headlines over the past week regarding the Deepwater Horizon disaster have focused on the $20 billion escrow account that BP was forced to set up for victim compensation. However, the far more important development from a public ...
Last Friday, we presented a profile and analysis of Ensco plc. At that time, the latest fleet status report was dated May 14, 2010 and was nearly a month old. The company provided an updated fleet status report (pdf) today ...
On Thursday, June 17, BP CEO Tony Hayward will testify before the House Committee on Energy and Commerce. In preparation for the testimony, the Committee Chairmen sent Mr. Hayward a letter listing a series of alleged procedural lapses that could ...
Initial reports regarding the Deepwater Horizon disaster indicated that BP was self insured for the costs of the massive cleanup efforts that will likely be required for years to come. While BP claims to be willing to pay for all ...