re: Oil prices and stock market

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So as someone who works in the industry, who do you like/expect to survive in the downturn?

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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.