Seadrill and Transocean Acquire Drilling Contracts, Hope to See Stabilization and Growth Soon

NEW YORK, NY / ACCESSWIRE / April 13, 2017 / According to Zack’s Investment Service, the Oil and Gas sector has started the 2nd quarter on a positive note. Oil prices rising and political tensions between the United States and Russia are turning up some heat in the Middle East. Seadrill has been wobbly of late, while Transocean has picked up some new drilling contracts to help steady the ship.

RDI Initiates
Coverage on:

Seadrill Ltd.

https://ub.rdinvesting.com/news/?ticker=SDRL

Transocean Ltd.

https://ub.rdinvesting.com/news/?ticker=RIG

Seadrill tanked 5.71% to close at $0.78 on Wednesday. The stock traded between $0.75 and $0.84 per share on a volume of 9,928,198 shares. The company has had a recent spate of both good and bad news over the last few weeks. Discussions about the impending Chapter 11 bankruptcy filings were offset with a new 10 year contract with Conoco Phillips for North Atlantic drilling. Many analysts are saying that Chapter 11 will be the best long term solution to reorganize its debts and get protection from the courts, regardless of how things turn out in the short term.

Access RDI’s Seadrill
Research Report at:

https://ub.rdinvesting.com/news/?ticker=SDRL

Transocean slid 3.67% to close at $12.07 on Wednesday. The stock traded erratically, between $12.04 and $12.67 per share on a lower than average volume of 8,242,776 shares. The company announced it will disclose its 1st quarter financial data on Wednesday, May 3, 2017. The company just secured a new contract, and investors may see it boosting the company upward in the near future. The company has a physical inventory of 56 mobile offshore drilling units: 30 ultra-deep water floaters, 7 harsh-environment floaters, 3 deep water floaters, 6 midwater floaters, 10 high-specification jack-ups, with 4 ultra-deep water drill ships and 5 high-specification jack-ups either under construction or under contract to be constructed.

Access RDI’s
Transocean Research Report at:

https://ub.rdinvesting.com/news/?ticker=RIG

Our Actionable Research on Seadrill Ltd. (NYSE: SDRL) and Transocean Ltd. (NYSE: RIG) can be downloaded free of charge at Research Driven Investing.

Research Driven
Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated, directly or indirectly, for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 459657