×
0 0 0 0 0 0 -0.0249433106575964 -0.0249433106575964
Stockreport

Ensco-Rowan deal makes sense but higher oil prices won’t soon help rig rates [Seeking Alpha]

Ensco Plc (ESV)  More Company Research Source: Seeking Alpha
Last ensco plc earnings: 10/29 05:12 pm Check Earnings Report
US:NYSE Investor Relations: enscoplc.com/investors/default.aspx
PDF Ensco’s (NYSE: ESV ) acquisition of Rowan (NYSE: RDC ) is “ just in time ,” as utilization rates and dayrates are starting to rise, says Evercore ISI analyst James West, who also continues to believe offshore drillers are where the doubles, triples and more can be found. ESV will now gain exposure to the ultra-harsh jackup market, which is a market that is quickly beginning to tighten , and double-down on its already robust market share position with Saudi Aramco via addition of RDC's ARO Drilling JV, according to Tudor Pickering Holt analysts. But Heard On The Street 's Spencer Jakab is more skeptical on the deal , noting that the combined company will have a fairly modern fleet but rig pricing will not improve industry-wide until rivals retire older rigs. The rig market will tighten eventually, but short-term factors elevating oil prices may have faded by then, too, Jakab writes. ESV jumped 3.6% and RDC rose 4.6% in today's trade. Click to subscribe [Read more]

IMPACT SNAPSHOT EVENT TIME: ESV
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST
PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST
PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
POST NEWS RANGE
%
PRICE CHANGE

PRICE CHANGE PERCENTAGE


S&P 500 (SPX)

%

VOLUME RATIO
%

VOLUME (SHARES)
TICKS

AVG SHARES PER TRADE

Don't Miss Out On The Next BIG Stock Move
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS
Opt-in for
ESV alerts
from News Quantified
Opt-in for
ESV alerts

from News Quantified
Opt-in for
ESV alerts

from News Quantified