Text Size:
A | A

Offshore Drillers: Strong Earnings Despite Volatile Crude Prices

Text Size: A | A
Caroline Evans
July 24, 2012

Although the price of crude has fallen in recent months and volatility has been a watchword for the commodity, the offshore rig market continues to climb, according to a report by Bernstein Research. The report focused on two of the largest offshore drillers, Noble Corp. and Diamond Offshore, which both posted better-than-expected second-quarter 2012 earnings.According to the report, which was authored by Scott Gruber, David X. Liu and Helin Shiah, the Noble Bob Douglas was recently contracted at $618,000 per day, while the Noble Homer Ferrington added three months at ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription