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Fly News Breaks for December 9, 2015
RDC, NE, FCX
Dec 9, 2015 | 14:58 EDT
Evercore ISI analyst James West said Freeport McMoRan's (FCX) capex reduction will idle two of the company's three contracted deepwater Gulf of Mexico drillships, putting Noble Corp. (NE) and/or Rowan Companies (RDC) at risk. West believes Nobles two higher drillships could be at risk while the company continues to operate the lowered priced Rowan Relentless, and could potentially negotiate a blend and extend contracts for this and at least one of its three other drillships coming off contract within a 10 month period in 2017-2018.
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