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Dayrate Duration

Tommy Lee

Offshore drilling, Deepwater E&P and fixed income markets

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Substack
PricingOnly free issuesPublishesWeekly
Issues31Founded3 years agoLast Issue21 days ago
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Latest Issues

Transocean-Valaris: Antitrust and HHI Analysis

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"Exploration is Back"

On April 20, 2026, Goldman Sachs published a note to clients on E&P’s prominently stating, “The market is rewarding reinvestment again” and “the industry needs to reinvest in reserve life”. On Thursday morning, leading marine seismic data c...

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Borr/Paratus Jackup M&A and Brazilian Deepwater Market Update

The following note covers Borr Drilling's acquisition of Paratus Energy's Mexican jackup fleet, Paratus’ remaining PLSV fleet, and key Brazilian deepwater market developments from regional drillers Constellation and Foresea to Buzios produc...

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Offshore High Yield: Tidewater, Transocean, Azule and Others

In This Issue:

  • High Yield Relative Value: Transocean, Azule Energy, Comstock Resources (shale), Foresea, and Borr

  • Tidewater’s acquisition of Wilson Sons Ultratug Offshore

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10 Thoughts on the Transocean-Valaris Merger

Monday morning, Transocean announced a $5.8 billion all-stock acquisition of Valaris, creating a globally diversified offshore drilling contractor. The combined fleet would include 24 seventh-generation drillships (~42% of global supply, in...

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    Deepwater Oil Drilling and High Yield Credit

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