yes two opposing themes here - underperformance in rig utilisation and gaining more from less. If it weren't for the latter the story would be very different. As @BerserkWarrior pointed out there should have been some explanation of the 25%+ idle rigs during the quarter. Maybe the rig downtime is related to looking for greater margin business - regardless some reason should have been reported.
MSV Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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