It would be fair to say that the offshore drilling sector is currently facing the perfect storm of events. Overcapacity has plagued the industry’s outlook for nearly twelve months now and the falling oil price has only compounded the industry’s problems.
The offshore drilling industry has been kicked in the teeth over the past twelve months. But as usual, for value investors, this has presented opportunity.
Taking action
The drillers have tried many different approaches to unlock value for investors over the past year or so. For example, Seadrill (NYSE:SDRL) has created a partnership,...
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