Jan 31, 2011

Egyptian Exposure for Offshore Drillers



We are closely monitoring the situation in Egypt to see if it may affect our offshore drillers. To date, we have not seen anything that will have a material impact on our fair value estimates. Transocean RIG and Diamond Offshore DO , which have rigs in the region, have evacuated the families of the offshore workers as a precaution. Transocean is the most exposed contractor, with 10 rigs in the region, although only 5 are currently working. The potentially affected active rigs are the drillship Discoverer Americas and jackups GSF Constellation II, GSF Rig 105, GSF Rig 141, and Transocean Comet. 
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Source: The Star

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