Borr Drilling Could Save The Day For Both Ensco And Atwood Shareholders [Seeking Alpha]
ATWOOD OCEANICS (ATW)
Last atwood oceanics earnings: 5/8 04:52 pm
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Source: Seeking Alpha
Summary Note: I have covered Atwood Oceanics (NYSE: ATW ) previously, so investors should view this article as an update to my earlier publishings on the company. Norway-based newcomer Borr Drilling continues to shake up the offshore drilling industry. Photo: Jackup rig "Atwood Orca" - Source: OffshoreEnergyToday.com As a reminder: The company started last year by picking up two modern jackup rigs from defunct Hercules Offshore and more recently acquired industry leader Transocean's (NYSE: RIG ) entire jackup fleet in a much-noted transaction . Borr Drilling is backed and spearheaded by a couple of former Seadrill (NYSE: SDRL ) executives. More recently, former Noble (NYSE: NE ) executive Simon Johnson was promoted to the CEO position . The company's largest shareholder (20%) is Schlumberger (NYSE: SLB ), the world's leading oilfield services company. Borr Drilling currently has a market capitalization of $1.1 billion and no
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