Hercules optimistic on US Gulf prospects

摘要

Houston—Wall Street’s concerns over a slower current pace of activity for shallow-water drilling in a stagnating Gulf of Mexico suggests the market may be “overly cautious,” since activity appears in balance and could further pick up near-term, the CEO of Hercules Offshore said Wednesday. Analysts, in recent reports to investors, have worried over falling dayrates for deepwater rigs from lack of demand and have cautioned this phenomenon could also spread to shallower waters—which are usually classified as 500 foot depths or less. But “today, the balance between supply and demand for rigs in the US Gulf of Mexico remains healthy,” John Rynd said in a quarterly earnings conference call.