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Transocean (RIG) has a strong liquidity buffer and an order backlog of $6.5 billion. This provides clear revenue visibility. Borr Drilling (BORR) has a robust EBITDA guidance for 2022 and the ...
The offshore drilling business has had its ups and downs as it returns to a more normal state nearly two years after the Gulf of Mexico oil spill. Some rig owners such as Transocean (NYS: RIG ...
It appears that the offshore drilling industry is finally set to rebound from one of the worst slumps that it has ever been through. 5 Reasons Offshore Drilling Stocks are Poised for a Rebound ...
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Congress repeated the effective ban on offshore drilling in these areas every year until September 2008, when an appropriations bill passed the House and Senate without the ban. In 1990, Congress passed the North Carolina Outer Banks Protection Act, prohibiting leasing and drilling on federal seabed offshore from North Carolina.
A mobile drilling platform in federal water offshore Louisiana, 1957 The state of Louisiana issued its first offshore oil and gas lease in 1936, and the following year the Pure Oil Company discovered the first Louisiana offshore oil field, the Creole Field, 1.2 miles (1.9 km) from the shore of Cameron Parish , from a platform built on timber ...
With the supply side showing signs of stabilization, the demand side of the market is needed to play a pivotal role in pushing crude prices above $50 per barrel from the current level of around $40.
The company sold its remaining stock in Omega Proteine on December 1, 2006, leaving it with no active subsidiary. [29] The Glazer family sold its controlling stock of the Zapata Corporation to Philip Falcone's Harbinger Capital in 2009, [30] [31] and the company's name was changed to Harbinger Group Inc. with the ticker symbol HRG on the NYSE. [32]