Tlsmd
8 years ago
Wow, those earnings are unbelievable, considerably beat estimate, the P/E is unbelievably low, the price is unbelievably low IMO, as far as the drillers go, I think this is best in class. News came after the close. A bounce today should be in order. I do not rule out a 1 1/2---2 point run with a gap opening. I am long the stock. TWT. Tlsmd
Timothy Smith
9 years ago
Moody's places 11 offshore drilling companies under review for a downgrade, citing concerns regarding "an extremely challenging operating environment through at least 2017."
The ratings agency expects oil prices to remain volatile and rise minimally through 2017, meaning the energy producers that hire offshore drillers will remain under pressure to keep a lid on spending.
"Sustained weak crude oil prices and a steady supply of newbuild rigs will cause significant credit erosion as contracted backlogs, revenues and cash flows continue to fade," Moody's writes, and "fewer offshore drilling opportunities will be available, resulting in a potentially prolonged period of lower dayrates and fleet utilization."
The companies under review are DO, ESV, NE, RDC, RIG, ATW, SDLP, ORIG, PGN, PACD and Shelf Drilling Midco.
- Timothy Smith
gta3uzi
10 years ago
It has to do with how their revenue is structured.
Offshore oil drillers operate on contract. The contracts they have right now are fairly safe, with a few exceptions like PEMEX and Petrobras, but the likelihood of new contracts or contract extensions coming in to replace the expiring ones are slim. This means that 2016 and 2017 could be an absolute bloodbath if oil stays around the same price levels we're seeing today.
Within that statement we have a few camps who think varying thoughts on competitiveness. We have discount drillers with old fleets like Hercules and Paragon. Their fleets are fairly depreciated and old, but they might be able to offer inexpensive services and obtain contracts where companies like Seadrill who have newer, expensive fleets might not be able to compete on a price basis. Some think that the newer fleet operators might undercut the older rigs, but contracts are for one to three years or more and they would lock themselves into an "ugly" contract if they do that and things rebound.
This is only a small snapshot of what's going on, but I think it starts to illustrate why P/E is temporarily so attractive on a few companies.
Timothy Smith
12 years ago
Atwood Oceanics, Inc. (ATW): Engages in offshore drilling, and the completion of exploratory and developmental oil and gas wells.
Market cap at $3.B, most recent closing price at $45.80. Diluted TTM earnings per share at 4.14, and a MRQ book value per share value at 29.63, implies a Graham Number fair value = sqrt(22.5*4.14*29.63) = $52.54.
Based on the stock's price at $45.02, this implies a potential upside of 16.69% from current levels.
eastunder
12 years ago
Offshore drillers rated 'Outperform'
Credit Suisse analyst sees promise in offshore drillers; rates 5 at 'Outperform'
Associated Press – 3 hours ago.. .
http://finance.yahoo.com/news/offshore-drillers-rated-outperform-165934852.html
NEW YORK (AP) -- An analyst wrote in a note to investors Wednesday that offshore drilling companies are under-appreciated, and he put bullish ratings on five of them.
Credit Suisse analyst Gregory Lewis put an "Outperform" rating on shares of five drilling companies — Rowan Cos., Noble Corp., Atwood Oceanics Inc., Diamond Offshore Drilling Inc., and Ocean Rig UDW Inc.
Ultra-deepwater drilling "will be the driving force shaping the next few years in the offshore drilling market," Lewis wrote. Companies can buy a new drillship for $650 million, to be delivered in 2014-2015, and then rent it out for $600,000 a day — bringing an adjusted profit of almost $400 million in the ship's first three years. "Not too shabby," he wrote.
Among companies with ultra-deepwater operations, Atwood Oceanics shares rose 22 cents to $45.73, Diamond shares rose 6 cents to $66.36, and Ocean Rig shares rose 7 cents to $16.41 in afternoon trading.
Meanwhile, rates have also been rising for larger-capacity drilling rigs, so companies that operate them are seeing record profit margins and should do well, Lewis wrote. Those include Rowan and Noble. Rowan shares rose 15 cents to $35.43, and Noble shares fell 1 cent to $37.89.
eastunder
12 years ago
Rescheduling Of Conference Call And Webcast
(NOTE: Earnings announcement date/time not changed - just CC)
Today : Friday 20 July 2012
Atwood Oceanics, Inc. (NYSE: ATW) announced today that it has rescheduled the time of its conference call and webcast in conjunction with its Fiscal 2012 Third Quarter earnings release. The Company's rescheduled conference call/webcast will be held at 9:00 A.M. ET (8:00 A.M. CT) on Thursday, August 2, 2012. The earnings announcement is scheduled to be released Wednesday, August 1, 2012 after the market closes.
eastunder
13 years ago
ATW 3Q earnings 8-01-12 AMC
Conference Call And Webcast Alert: Atwood Oceanics, Inc. Invites You to Join Its Fiscal 2012 Third Quarter Conference Call on...
Atwood Oceanics (NYSE:ATW)
Intraday Stock Chart
Today : Thursday 12 July 2012
Conference Call And Webcast Alert: Atwood Oceanics, Inc. Invites You to Join Its Fiscal 2012 Third Quarter Conference Call on the Web
PR Newswire
HOUSTON, July 11, 2012
HOUSTON, July 11, 2012 /PRNewswire/ -- Atwood Oceanics, Inc. announced today that it would hold its conference call and webcast in conjunction with its Fiscal 2012 Third Quarter earnings release. The Company's conference call/webcast is scheduled for Thursday, August 2, 2012. The earnings announcement is scheduled to be released Wednesday, August 1, 2012 after the market closes.
eastunder
13 years ago
Atwood Oceanics Announces Contract for the Atwood Aurora
Atwood Oceanics (NYSE:ATW)
Intraday Stock Chart
Today : Tuesday 10 July 2012
ATWOOD OCEANICS, INC., announced today that one of its subsidiaries has been awarded a drilling services contract by GLENCORE EXPLORATION CAMEROON LTD for the jack-up rig Atwood Aurora. The contract for three wells with a minimum total duration of 200 days will be performed in Cameroon at a dayrate of approximately $155,000.
Contract commencement is expected in February 2013 in direct continuation of the two well contract with Bowleven PLC. With the award of this contract, the firm contractual commitment for the Atwood Aurora is expected to extend to August 2013.
Atwood Oceanics, Inc. is an international offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company currently owns 11 mobile offshore drilling units operating in the United States Gulf of Mexico, South America, the Mediterranean Sea, West Africa, southeast Asia and Australia, and is constructing two ultra-deepwater drillships and three high-specification jackups for deliveries in 2012, 2013 and 2014. The company was founded in 1968 and is headquartered in Houston, Texas. Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol "ATW."
eastunder
13 years ago
ATW 2Q earnings 5-1-12 AMC
Conference Call and Webcast Alert: Atwood Oceanics, Inc.
Atwood Oceanics (NYSE:ATW)
Intraday Stock Chart
Today : Monday 16 April 2012
Atwood Oceanics, Inc. announced today that it would hold its conference call and webcast in conjunction with its Fiscal 2012 Second Quarter earnings release. The Company's conference call/webcast is scheduled for Wednesday, May 2, 2012. The earnings announcement is scheduled to be released Tuesday, May 1, 2012 after the market closes.
You are invited to listen to its conference call that will be broadcast live over the Internet at 9:00 A.M. ET, Wednesday, May 2, 2012 with Rob Saltiel, President and CEO and Mark Mey, Senior Vice President and CFO.
What:
Atwood Oceanics, Inc.'s Fiscal 2012 Second Quarter Earnings Release
When:
9:00 A.M. ET (8:00 a.m. CT), Wednesday, May 2, 2012
Where:
http://edge.media-server.com/m/p/63985a2s/lan/en
Dial In:
1-800-862-9098 / 785-424-1051 Conference ID#: ATWOOD
Some of the matters that will be discussed in the Conference Call on May 2, 2012 will be forward-looking statements, based on current expectations, that involve risks and uncertainties that could cause the Company's actual future activities to be materially different from those that will be suggested or discussed in the Conference Call. If you are unable to participate during the live webcast, the call will be archived for 30 days on the website www.prnewswire.com.