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re: Thoughts on RIG?
Posted on 2/2/15 at 3:03 pm to Hoyt
Posted on 2/2/15 at 3:03 pm to Hoyt
If you believe the drillers are oversold, buy the best in class. In this case, I believe it to be SDRL, not RIG. SDRL cut their dividend and will instead pay down debt and buy back stock, great long term moves while the stock price is depressed and debt will be coming due at less favorable refinance rates. Also, they have the best fleet of the big drillers so they will have the best shot to win work once deep water drilling eventually picks back up.
1
Posted on 2/3/15 at 12:21 pm to Crbello4Hiceman
RIG up nicely today... glad I ended up buying some at $16.40
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