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re: Oil prices and stock market
Posted on 12/14/14 at 2:52 pm to offshoretrash
Posted on 12/14/14 at 2:52 pm to offshoretrash
So as someone who works in the industry, who do you like/expect to survive in the downturn? Care to speculate on it? I'm long oil in general in several ways, and got into SDRL a month or two ago. Bought again last week and expect it to go under 10 where I will buy more.
1
Posted on 12/15/14 at 7:42 am to eye65
quote:
So as someone who works in the industry, who do you like/expect to survive in the downturn?
Transocean, Noble, and Diamond are in pretty good shape. I think ENSCO will be hurting, they have several rigs coming off contract. There are several foreign companies that will get hurt bad. This will give some of the stronger ones a chance to buy up rigs. I look for Noble especially to buy a company or rigs. They have downsized recently and this is a way for them to build back up.
For a long term investment keep an eye out for Petrobras. It's hard for me to trust them but the potential is there, it just may be 4 or 5 more years down the road. Their stock was already low because of the corruption going on inside the company, it's around $7 now.
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