A Bullish Case For Ensco
By Power Hedge:
A few weeks ago, I analyzed SeaDrill's (SDRL) presentation at the Howard Weil 40th Energy Conference in an article published on Seeking Alpha. One of SeaDrill's peers, Ensco plc (ESV), also gave a presentation at the same conference. SeaDrill devoted a large portion of its presentation to a discussion of the strong fundamentals of the offshore drilling industry. Ensco took a different approach and devoted its presentation solely to a discussion of itself and its own prospects. There is still a lot of good information here and I recommend reviewing both presentations when conducting your own due diligence.Ensco has the second largest offshore drilling fleet in the world, second only to Transocean (RIG). The company has the largest active jack-up fleets and one of the newest deepwater and ultra-deepwater fleets in the industry. Ensco included this chart in its presentation to show the relative fleet sizes for the majorComplete Story »
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