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 Sedco Forex Offshore to merge with Transocean Oil & Gas ...

Sedco Forex Offshore to merge with Transocean Oil & Gas ...

(Potential Takeover Target) MODU Pacific Drilling Draws Interest as Target: Bloomberg Business

http://www.bloomberg.com/news/articles/2015-06-11/pacific-drilling-draws-interest-as-cheap-deepwater-target-m-a
I launched a discussion on this a month ago when Hercules filed for Bankruptcy.
http://redd.it/3ach2z
Pacific "PACD" is currently at $2.55
It seems to further my thoughts that sometime this year I see acquisitions of smaller drilling companies by larger companies. With the glut of rigs, it makes no sense to continue building them and add to the oversupply but simply purchase other companies with a modern fleet and contracts and assume their work.
Personally, I see Transocean "RIG" making the first buy during this downturn.
  1. They have a large line of untapped credit.
  2. The Macondo Settlement is closed and they were fined no where near what they expected.
  3. Due to Macondo they didn't build rigs without contracts so their glut is with their existing fleet.
  4. They've retired half of their fleet, from 120 rigs down to 65 in the fleet at the moment, and still not finished. This has brought their average age up to 10-15 yrs of rig age.
Now here's where the big points come into play.
  1. Transocean has been built on Mergers and buyouts. Ex: Aker, Global Santa Fe, R&B Falcon, Sedco, Forex.....
  2. The new CEO is from NOV "NOV $44.16" which is a company built on aggressive takeovers and mergers of other companies.
Right now, I don't see any big mergers between the giants, but more so a slaughterhouse amongst all the smaller players who own 3-5 newer rigs and don't have the capitol to maintain them.
Maersk "MAERSKB" is another rumored favorite for doing takeovers. Ocean Rig "ORIG $4.71" on the other hand seems prime to be bought out.
Only time will tell.
submitted by Corte-Real to investing [link] [comments]

Working Around Cranes Sedco Express Oil Rig - Angola 2007 Sedco 711 offshore drilling program Chipping And Painting Drilling Fluids - Mud Part IV

Reviews from Transocean Sedco Forex employees about Transocean Sedco Forex culture, salaries, benefits, work-life balance, management, job security, and more. Home; Sedco Forex Offshore to merge with Transocean. Schlumberger Ltd., Paris, has agreed to spin off its offshore contract drilling unit, Sedco Forex Offshore, in order to unite it with ... PRESS RELEASE / 09.10.2020 - Transocean Ltd. Announces Final Results of Exchange Offers read more >; PRESS RELEASE / 09.08.2020 - Transocean Ltd. Announces Successful Court Ruling, Extension of Exchange Offers and Current Exchange Results read more > Transocean Offshore Inc. announced today that its shareholders on December 10 approved proposals relating to the merger of Transocean Offshore and Sedco Forex, the offshore contract drilling ... Transocean Sedco Forex Inc. is the world's largest offshore drilling company and the fourth largest oilfield service company overall. Officially a Cayman Islands corporation, it operates out of Houston, Texas, with more than 16,000 employees located around the globe. Transocean's drilling rigs and work crews are contracted by petroleum ...

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Working Around Cranes

Sedco Forex / Schlumberger. Writer, Director, Producer - Jerry Hodges. Series taught proper techniques for painting with different types of paint, how to prep the surface and how to select the p... A short film of life offshore in Angola 2007 Sedco Forex / Schlumberger. Writer, Director, Producer, Editor , Camera - Jerry Hodges. Five part series dedicated to proper operating procedures when working around cranes - slinging, hand ... IMARKETSLIVE AVIS D'UN FOREX TRADER SUR IML TRADING FRANCE - Voici mon email mrperriet[at]gmail.com et pour me contacter par Telegram, tape en recherche @forexgang Yo Bro, Je m'appelle Laurent et ... Sedco Forex / Schlumberger. Writer, Director, Producer - Jerry Hodges. Series taught proper techniques for painting with different types of paint, how to prep the surface and how to select the ...

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