Bharti Keswani, Mehul Ramaiya and Kavita Keyur Morparia also contributed to this note.

Drilling companies have reported contracts signed in Mar-08, that will yield revenues way up to 2015/2016. Customers are ready to pay even for idle time of rigs for upgrades as well as 10-40% higher day rates.

Gridstone Research covers 14 drilling companies (excluding GSF) within its current coverage universe of 143 oil and gas companies. Some of the drilling companies report deals struck for new rigs and new contracts on old rigs on a regular basis. This note makes an effort to look at the impact of the contracts on the earnings that these drilling companies will report in the future, during the tenure of the contract. read more…

Anila Prakash contributed to this note. 

Drilling companies report in Jan-08 about many deep-water drilling contracts yielding high return on investments 

Gridstone Research covers 15 drilling companies within its current coverage universe of 129 oil and gas companies. Some of the drilling companies report deals struck for new rigs and new contracts on old rigs on a regular basis. This note makes an effort to look at the impact of the contracts on the earnings that these drilling companies will report in the future, during the tenure of the contract. read more…