This Company Is Getting Ready to Rule Offshore Oil
Of all the offshore rig companies out there, no one is as aggressive as Seadrill in building out for the future. The company currently has enough rigs, drillships, and semi-submersibles under construction to expand its current fleet by almost 40% in the next couple of years. Also, with one of the youngest fleets of rigs, and a large share of the equipment used for ultra-deepwater exploration, the company is looking to make a big splash in the next several years.
One big region to keep an eye on is the pre-salt formation of Brazil. Auctions for this lucrative field are expected later this year, and Seadrill already has a working relationship with Petrobras , with three rigs already offshore Brazil. Since Petrobras has a government-mandated 30% operator stake in every well in this new region, having a solid working relationship could mean very good things for Seadrill in the future. Tune into the video below where Fool.com contributor Tyler Crowe discusses some other promising regions that could offer big gains for Seadrill. He also wonders why its competitors are not yet putting up a big fight: Can they move fast enough to keep up with Seadrill's ambitious plans?
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The article This Company Is Getting Ready to Rule Offshore Oil originally appeared on Fool.com.Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter, @TylerCroweFool. The Motley Fool recommends Chevron, Petroleo Brasileiro S.A. (ADR), and Seadrill. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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