Drill Into the Transocean Value Case

While we believe we are way too early in calling a bottom for the offshore drilling business cycle, we do believe that investors with a six- to 12-month time horizon should consider starting a long position in Transocean (RIG).

Transocean operates worldwide, and its fleet is composed of both floaters and jackups. Although each company in the industry is differentiated by the age and capability of its rigs, in general the industry frequently is viewed as a capital-intensive, commodity-like business. Transocean has grown significantly over time through a series of acquisitions, so its fleet is a hodgepodge, with a number of older, less capable assets mixed with state-of-the-art drillships....495 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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