Diamond Offshore Could Be in Deep(water) Trouble Soon
When you look at Diamond Offshore's fleet, it isn't too surprising that shares are down more than16% so far this year. The company has one of the oldest fleets on the market today and, unlike competitors Noble Corp and Transocean that plan to shed some of their older assets in spinoffs, Diamond seems to be staying the course. These older assets will be put to the test in the upcoming months, though, because more than 25% of its fleet will be coming off contract with no new one in place. Not only does Diamond need to convince companies to re-up with its fleet, but it also needs to convince them that it is a better option than the several rigs coming online from Transocean and Seadrill .
Find out more about how Diamond's fleet is performing today, and how much of an impact it will be when those rigs go off contract, by tuning into the video below.
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The article Diamond Offshore Could Be in Deep(water) Trouble Soon originally appeared on Fool.com.Tyler Crowe owns shares of Seadrill. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter @TylerCroweFool. The Motley Fool recommends 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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