# ![@Ultradeep3 Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1234642496308662274.png) @Ultradeep3 Ultradeep

Ultradeep posts on X about $rig, $val, $ne, $oih the most. They currently have [-------] followers and [---] posts still getting attention that total [---] engagements in the last [--] hours.

### Engagements: [---] [#](/creator/twitter::1234642496308662274/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1234642496308662274/c:line/m:interactions.svg)

- [--] Week [------] +220%
- [--] Month [------] +249%
- [--] Months [-------] -36%
- [--] Year [-------] -9%

### Mentions: [--] [#](/creator/twitter::1234642496308662274/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1234642496308662274/c:line/m:posts_active.svg)

- [--] Week [--] no change
- [--] Month [--] -16%
- [--] Months [---] +16%
- [--] Year [---] +25%

### Followers: [-------] [#](/creator/twitter::1234642496308662274/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1234642496308662274/c:line/m:followers.svg)

- [--] Week [-----] +0.42%
- [--] Month [-----] +1%
- [--] Months [-----] +3.60%
- [--] Year [-----] +11%

### CreatorRank: [---------] [#](/creator/twitter::1234642496308662274/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1234642496308662274/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[cryptocurrencies](/list/cryptocurrencies)  [finance](/list/finance)  [stocks](/list/stocks)  [countries](/list/countries)  [technology brands](/list/technology-brands)  [currencies](/list/currencies)  [social networks](/list/social-networks)  [travel destinations](/list/travel-destinations)  [celebrities](/list/celebrities)  [us election](/list/us-election) 

**Social topic influence**
[$rig](/topic/$rig) #50, [$val](/topic/$val) #34, [$ne](/topic/$ne) #746, [$oih](/topic/$oih), [$sdrl](/topic/$sdrl), [$do](/topic/$do), [$slb](/topic/$slb), [balance sheet](/topic/balance-sheet), [$borr](/topic/$borr), [$xle](/topic/$xle)

**Top assets mentioned**
[Transocean LTD. (RIG)](/topic/$rig) [Validity (VAL)](/topic/$val) [Noble Corporation (NE)](/topic/$ne) [Seadrill Limited (SDRL)](/topic/$sdrl) [Schlumberger NV (SLB)](/topic/$slb) [Borr Drilling Limited (BORR)](/topic/$borr) [Peabody Energy Corporation (BTU)](/topic/$btu) [Oxygen (OXY)](/topic/$oxy) [Nov Inc (NOV)](/topic/$nov) [PolkaBridge (PBR)](/topic/$pbr) [Tidewater, Inc. (TDW)](/topic/$tdw) [TechnipFMC (FTI)](/topic/$fti) [Amkor Technology Inc (AMKR)](/topic/$amkr) [Archway (ARCH)](/topic/$arch) [BP p.l.c. (BP)](/topic/$bp) [TotalEnergies SE (TTE)](/topic/$tte) [Sea Limited (SE)](/topic/$se) [BHP Group Limited (BHP)](/topic/$bhp)
### Top Social Posts
Top posts by engagements in the last [--] hours

"@trader_ferg @BryanPa98327710 $DO has a weak balance sheet. EBITDA does not interest expense and needed to draw down the revolver as limited cash remaining"  
[X Link](https://x.com/Ultradeep3/status/1254678988351369216)  2020-04-27T07:49Z [----] followers, [--] engagements


"@Sparticuszorro Yes but [----] election did not feature an unprecedented scale of VBM. VBM facilitates fraud & tactics such as ballot harvesting (likely indicated by the huge number of ballots which only have a vote for the presidential race). Happy to be proven wrong but"  
[X Link](https://x.com/Ultradeep3/status/1325724804494716928)  2020-11-09T08:59Z [----] followers, [--] engagements


"@MiamiValue $BTU [--] volume guidance flat to [--] looks conservative"  
[X Link](https://x.com/Ultradeep3/status/1395497524459307011)  2021-05-20T21:51Z [----] followers, [--] engagements


"$RIG I guess a step in the right direction Despite its unprecedented backlog we find the risk-profile to be too elevated and the equity to be an OTM option on rig values. On the back of higher rig values we raise our TP to USD 0.9/share (0.4) but reiterate our SELL rec"  
[X Link](https://x.com/Ultradeep3/status/1405500234281586695)  2021-06-17T12:19Z [----] followers, [--] engagements


"Mt Arthur is a major thermal coal mine in NSW Hunter Valley with 2P reserves est [---] Mt (as of FYE Jun 20) with avg kcal/kg 6000"  
[X Link](https://x.com/Ultradeep3/status/1409470274592935943)  2021-06-28T11:14Z [----] followers, [--] engagements


"1H FYE Jun [--] EBITDA was -$180mm on revenue of $314mm. Reported cash cost was $66/tonne. FYE Jun21 cash costs are guided at $55-59/tonne on total production of 14-15 Mt. FYE Jun [--] / [--] EBITDA was -$79mm/+353mm. FYE Jun [--] EBITDA was +569mm"  
[X Link](https://x.com/Ultradeep3/status/1409470276711043074)  2021-06-28T11:14Z [----] followers, [--] engagements


"@RaisingTheBAR47 @cap_zay Happy that all disagree. Reflation dip deep enough where it will be back on the radar esp as most missed it. China already starting to loosen. Fed is not doing anything. Stimulus remains. Rates absurdly low. Asia has been stuck in ZeroCovid insanity but is getting vaxxed AWA Eur"  
[X Link](https://x.com/Ultradeep3/status/1416192019517505543)  2021-07-17T00:24Z [----] followers, [--] engagements


"Buy or sell $AMKR +5% day across semi packaging & test $AMKR $KLIC look most interesting on valuation. One subsector in semis w/room to rerate (EV/EBITDA comps below) $AMKR [---] $ASX [---] $KLIC [---] Foundry/OSAT cap equip $TSM [----] $UMC [---] $TER [----] https://t.co/Bymsneekhb [---] +5% day across semi packaging & test $AMKR $KLIC look most interesting on valuation. One subsector in semis w/room to rerate (EV/EBITDA comps below) $AMKR [---] $ASX [---] $KLIC [---] Foundry/OSAT cap equip $TSM [----] $UMC [---] $TER [----] https://t.co/Bymsneekhb 8.9"  
[X Link](https://x.com/Ultradeep3/status/1438806763717857289)  2021-09-17T10:07Z [----] followers, [--] engagements


"It really do be like that sometimes $RIG $NE $VAL h/t @rajasark cc: @paretosec"  
[X Link](https://x.com/Ultradeep3/status/1442396901601525766)  2021-09-27T07:53Z [----] followers, [--] engagements


"$ARCH price target to $110 from $62 (Citi)"  
[X Link](https://x.com/Ultradeep3/status/1443572177509355524)  2021-09-30T13:43Z [----] followers, [--] engagements


"Offshore rankings $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1445334269245591554)  2021-10-05T10:25Z [----] followers, [--] engagements


"My offshore frustration-o-meter is close to max levels & then the geniuses at Esgian pull me back from the ledge BIG $RIG LAPDOGS $NE $VAL https://www.esgian.com/articles/watch-out-offshore-drillers-oil-at-80-feels-a-lot-different-this-time-around/2038 https://www.esgian.com/articles/watch-out-offshore-drillers-oil-at-80-feels-a-lot-different-this-time-around/2038"  
[X Link](https://x.com/Ultradeep3/status/1446066496870830086)  2021-10-07T10:54Z [----] followers, [--] engagements


"$VAL management & shareholders (creditors) RN"  
[X Link](https://x.com/Ultradeep3/status/1450744930645643266)  2021-10-20T08:45Z [----] followers, [--] engagements


"$AMKR blows up the semi over-shipment/inventory thesis ( $AMKR major exposure to autos) $SMH $SOXX $NXPI Amid all the talk about shortages could semis actually be running hot We explore evidence for such across the automotive PC and industrial markets in todays note. Link (institutional clients only): https://t.co/JubirVCJxX https://t.co/BZGDm0B5Tb Amid all the talk about shortages could semis actually be running hot We explore evidence for such across the automotive PC and industrial markets in todays note. Link (institutional clients only): https://t.co/JubirVCJxX https://t.co/BZGDm0B5Tb"  
[X Link](https://x.com/Ultradeep3/status/1452834943050997766)  2021-10-26T03:10Z [----] followers, [--] engagements


"$NE earnings call: key point from an industry perspective was that it wont pursue the $VAL strategy of reactivating stacked rigs @ breakeven dayrates. $SDRL exiting c11 over next couple months but its 7G BE UDW fleet already contracted $RIG $OIH"  
[X Link](https://x.com/Ultradeep3/status/1457986391086813188)  2021-11-09T08:20Z [----] followers, [--] engagements


"@MSVCap Hard to see $DOFSQ moving the needle for anyone yet as nothing really strategic to offer (small scale no bags of cash). $RIG more likely tack-ons of HE/UDW floaters (from $SDRL/$NOL) and $VAL would be a strategic [---] unless the JUs go to someone else"  
[X Link](https://x.com/Ultradeep3/status/1458539753003839489)  2021-11-10T20:59Z [----] followers, [--] engagements


"9-handle marketed floater utilization across major players $RIG $NE $VAL $SDRL $OIH https://www.oedigital.com/news/492109-westwood-how-maersk-drilling-noble-rig-fleet-stacks-up-against-rivals#.YZMaAF_lVCM.twitter https://www.oedigital.com/news/492109-westwood-how-maersk-drilling-noble-rig-fleet-stacks-up-against-rivals#.YZMaAF_lVCM.twitter"  
[X Link](https://x.com/Ultradeep3/status/1460438899210141700)  2021-11-16T02:45Z [----] followers, [--] engagements


"John Fredriksen builds up in rig again: Has bought five percent of the giant and Seadrill rival Valaris $SDRL $VAL $RIG $NE $OIH https://www.dn.no/rigg/seadrill/rigg/john-fredriksen/john-fredriksen-bygger-seg-opp-i-rigg-igjen-har-kjopt-fem-prosent-av-giganten-og-seadrill-rivalen-valaris/2-1-1120102 $SDRL + $VAL could make sense post this news - Noble Corporation and Maersk Drilling announce agreement to combine https://t.co/Z8kRzu9mBN"  
[X Link](https://x.com/Ultradeep3/status/1469128134138413058)  2021-12-10T02:13Z [----] followers, [--] engagements


"Pareto out with bullish 34pp tome on drillers. First house out of the gates with more to come. Still hating on $RIG given premium in steel value but reality is backlog matters & rising tide lifts all boats. Strap in for the ride $RIG $NE $VAL $SDRL $OIH"  
[X Link](https://x.com/Ultradeep3/status/1471381095837241350)  2021-12-16T07:26Z [----] followers, [--] engagements


"I didnt check recent numbers but still assuming the thesis is (or will be) on target $RIG $NE $VAL $OIH"  
[X Link](https://x.com/Ultradeep3/status/1483746492296970245)  2022-01-19T10:21Z [----] followers, [--] engagements


"Far from an ESG bro but potential for [---] incremental rig demand for CCS sounds just sort of bullish with ongoing consolidation/rig retirements & Brent $80 $RIG $NE $VAL $SDRL $OIH"  
[X Link](https://x.com/Ultradeep3/status/1483748954726621186)  2022-01-19T10:31Z [----] followers, [--] engagements


"$SLB earnings commentary $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1484520212078624769)  2022-01-21T13:36Z [----] followers, [--] engagements


"I am downgrading oil services $SLB $OIH to sell & offshore to STRONG SELL especially $RIG"  
[X Link](https://x.com/Ultradeep3/status/1485547911068803073)  2022-01-24T09:39Z [----] followers, [--] engagements


"Looking forward to the return of $500k+ floater dayrates $OIH $RIG $VAL Sierra Club just destroyed all the hopes & dreams of the offshore cabal as expected. Guysoffshore drilling is DOA even though oil prices will continue to roof implying obscene IRRs $OIH $RIG $VAL $NE https://t.co/Dxz3rurIfd Sierra Club just destroyed all the hopes & dreams of the offshore cabal as expected. Guysoffshore drilling is DOA even though oil prices will continue to roof implying obscene IRRs $OIH $RIG $VAL $NE https://t.co/Dxz3rurIfd"  
[X Link](https://x.com/Ultradeep3/status/1487627062500229122)  2022-01-30T03:21Z [----] followers, [--] engagements


"Moar seismic $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1491716360568979459)  2022-02-10T10:11Z [----] followers, [--] engagements


"@timdayipper"  
[X Link](https://x.com/Ultradeep3/status/1491747780431253510)  2022-02-10T12:16Z [----] followers, [--] engagements


"Deepwater/HE the sweet spots $OIH $RIG $NE $VAL http://www.offshore-mag.com/rigs-vessels/article/14234011/demand-for-floating-rigs-soars-in-february http://www.offshore-mag.com/rigs-vessels/article/14234011/demand-for-floating-rigs-soars-in-february"  
[X Link](https://x.com/Ultradeep3/status/1493776583798456320)  2022-02-16T02:37Z [----] followers, [--] engagements


"And another one $OIH $RIG $NE $VAL https://www.reuters.com/business/energy/norway-oil-firms-raise-2022-investment-forecasts-2022-02-17/ https://www.reuters.com/business/energy/norway-oil-firms-raise-2022-investment-forecasts-2022-02-17/"  
[X Link](https://x.com/Ultradeep3/status/1494293464036429827)  2022-02-17T12:51Z [----] followers, [--] engagements


"$NE on reactivating cold-stacked floaters $OIH $RIG $VAL"  
[X Link](https://x.com/Ultradeep3/status/1494448208525033472)  2022-02-17T23:06Z [----] followers, [--] engagements


"Drillers that recently contracted rigs far below prevailing dayrates to pay for reactivation $VAL"  
[X Link](https://x.com/Ultradeep3/status/1501033862432198656)  2022-03-08T03:15Z [----] followers, [--] engagements


"On an earnings basis there is no material cheapness in $VAL vs $RIG"  
[X Link](https://x.com/Ultradeep3/status/1504761111534800904)  2022-03-18T10:06Z [----] followers, [--] engagements


"@RitzerAdam OSV is a 2nd derivative of offshore drilling so should do well as this cycle looks real. $DOFSQ has been trying to sell itself since exiting C11 without any takers. Dont see compelling story there"  
[X Link](https://x.com/Ultradeep3/status/1507157918881558536)  2022-03-25T00:50Z [----] followers, [--] engagements


"Well this all sounds just mildly bullish for UDW drillers $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1516323793114828800)  2022-04-19T07:52Z [----] followers, [--] engagements


"$SLB 1Q2022 $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1517471885700722695)  2022-04-22T11:54Z [----] followers, [--] engagements


"$OIH $RIG $NE $VAL $DO https://www.youtube.com/watchv=3_CQVuSFgB4 https://www.youtube.com/watchv=3_CQVuSFgB4"  
[X Link](https://x.com/Ultradeep3/status/1518064178174771200)  2022-04-24T03:07Z [----] followers, [--] engagements


"$PBR $OIH $RIG $NE $VAL $SDRL"  
[X Link](https://x.com/Ultradeep3/status/1525026044511911936)  2022-05-13T08:11Z [----] followers, [--] engagements


"$RIG new 2% holder: Slate Path Capital (also new 1% holder $NOV)"  
[X Link](https://x.com/Ultradeep3/status/1526555201087619072)  2022-05-17T13:28Z [----] followers, [--] engagements


"$OIH $RIG $NE $VAL $SDRL"  
[X Link](https://x.com/Ultradeep3/status/1530168769381023744)  2022-05-27T12:47Z [----] followers, [--] engagements


"Is the offshore cycle real or just fantasy 2nd derivative activity starting to pick up $OIH $RIG $NE $VAL Westwood Insight Global active OSV fleet boosted by significant reactivations https://www.westwoodenergy.com/news/westwood-insight/westwood-insight-global-active-osv-fleet-boosted-by-significant-reactivations https://www.westwoodenergy.com/news/westwood-insight/westwood-insight-global-active-osv-fleet-boosted-by-significant-reactivations"  
[X Link](https://x.com/Ultradeep3/status/1535424197945851904)  2022-06-11T00:50Z [----] followers, [--] engagements


"West Africa Market Harbors Positive Potential for MODU Operators $OIH $RIG $VAL $SDRL $DO https://www.oedigital.com/news/497329-west-africa-market-harbors-positive-potential-for-modu-operators https://www.oedigital.com/news/497329-west-africa-market-harbors-positive-potential-for-modu-operators"  
[X Link](https://x.com/Ultradeep3/status/1536973417462632449)  2022-06-15T07:26Z [----] followers, [--] engagements


"$OIH $SLB $RIG $VAL $NE"  
[X Link](https://x.com/Ultradeep3/status/1539605132307886080)  2022-06-22T13:44Z [----] followers, [--] engagements


"UDW rig market update #offshore $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1544577317862662144)  2022-07-06T07:01Z [----] followers, [--] engagements


"Muting the following DXY EUR Shanghai CPI Inflation Copper Recession Inverted/Inversion Housing BA.4 BA.5 George Noble"  
[X Link](https://x.com/Ultradeep3/status/1546677004874838017)  2022-07-12T02:05Z [----] followers, [--] engagements


"$NOV earnings call - rig reactivation #offshore $OIH $RIG $VAL $NE"  
[X Link](https://x.com/Ultradeep3/status/1553285733149843456)  2022-07-30T07:45Z [----] followers, [--] engagements


"$OIH $RIG $VAL $NE"  
[X Link](https://x.com/Ultradeep3/status/1570701698565541889)  2022-09-16T09:10Z [----] followers, [--] engagements


"The end is near $OIH $RIG $VAL $NE http://www.offshore-mag.com/regional-reports/latin-america/article/14283489/booming-brazilian-ep-buoys-rio-oil-gas-show http://www.offshore-mag.com/regional-reports/latin-america/article/14283489/booming-brazilian-ep-buoys-rio-oil-gas-show"  
[X Link](https://x.com/Ultradeep3/status/1575413991299776512)  2022-09-29T09:15Z [----] followers, [--] engagements


"$411k dayrate for a state-of-art 6G semi-subno comment necessary $NE $DRLCO $RIG $VAL $DO https://www.maerskdrilling.com/news-and-media/press-releases/maersk-drilling-awarded-contract-offshore-brazil-with-shell https://www.maerskdrilling.com/news-and-media/press-releases/maersk-drilling-awarded-contract-offshore-brazil-with-shell"  
[X Link](https://x.com/Ultradeep3/status/1575774290058055680)  2022-09-30T09:07Z [----] followers, [--] engagements


"Peak DR (ttbomk) during the last cycle was $660k (PACD Khasmin w/CVX). Per last earnings call $RIG DW Atlas likely to be awarded the SHEL/EQNR N Platte contract which should fix a new high for DRs for this cycle. Expect at least $500k handle. To get to similar peak cycle day rates you would need $1m/day day rates. Massive torque to this sector and like $btu at 3$ i used every correction to get MOAAH cherries. Now ill be buying $rig cherries. To get to similar peak cycle day rates you would need $1m/day day rates. Massive torque to this sector and like $btu at 3$ i used every correction to get"  
[X Link](https://x.com/Ultradeep3/status/1582653013466177536)  2022-10-19T08:40Z [----] followers, [--] engagements


"Did someone say torque $SLB $OIH $RIG"  
[X Link](https://x.com/Ultradeep3/status/1583429269715574786)  2022-10-21T12:05Z [----] followers, [--] engagements


"$NOV #offshore"  
[X Link](https://x.com/Ultradeep3/status/1586306182121422848)  2022-10-29T10:37Z [----] followers, [--] engagements


"$SDRL earnings call industry commentarysome nuggets in here $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1598149298860220417)  2022-12-01T02:57Z [----] followers, [--] engagements


"$SDRL Aquadrill - merger voting & support agreement members (other disclosed substantial driller holdings) GoldenTree ( $VAL $NE ) Canyon ( $VAL $NE ) Elliott ( $VAL $NE ) Invesco Sculptor https://d18rn0p25nwr6d.cloudfront.net/CIK-0001737706/b0d9a1a8-f647-4403-b684-a92c57221ad8.pdf https://d18rn0p25nwr6d.cloudfront.net/CIK-0001737706/b0d9a1a8-f647-4403-b684-a92c57221ad8.pdf"  
[X Link](https://x.com/Ultradeep3/status/1607983074033426441)  2022-12-28T06:13Z [----] followers, [----] engagements


"#offshore [----] $RIG $NE $VAL $SDRL $DO"  
[X Link](https://x.com/Ultradeep3/status/1609004739873898498)  2022-12-31T01:53Z [----] followers, 15.4K engagements


"$DO equity trading near high-end of plan valuation despite substantial downward revision to [--] cash flow forecast (vs plan). Expect continued independence to be brief. $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1609371681403047940)  2023-01-01T02:11Z [----] followers, [--] engagements


"$OIH $RIG $NE $VAL Esgian Rig Service reported that the 12000-ft seventh-generation West Dorado drillship has been sold to Eldorado Drilling a newly established company owned by a group of investors. #drillship #drilling #offshoreoilandgas https://t.co/PJOxJqYnlE Esgian Rig Service reported that the 12000-ft seventh-generation West Dorado drillship has been sold to Eldorado Drilling a newly established company owned by a group of investors. #drillship #drilling #offshoreoilandgas https://t.co/PJOxJqYnlE"  
[X Link](https://x.com/Ultradeep3/status/1611148779104919557)  2023-01-05T23:52Z [----] followers, [----] engagements


"$OIH $SDRL $RIG $NE $VAL West Dorado / Eldorado Drilling - Liking the Google translation of Norwegian"  
[X Link](https://x.com/Ultradeep3/status/1611914762266488832)  2023-01-08T02:36Z [----] followers, 10.5K engagements


"$SDRL fresh IR deck. Good illustration of why industry consolidation will continue driven by drillers with high utilization rates but long-term lower DR contracts & sub-scale operators (cost synergies) $OIH $RIG $NE $VAL $DO"  
[X Link](https://x.com/Ultradeep3/status/1613326272347918337)  2023-01-12T00:05Z [----] followers, 11.9K engagements


"$OIH $RIG $NE $VAL Offshore FIDs to be active in [----]. Good color on GOM Sparta project (fka North Platte) https://login.esgian.com/articles/offshore-fids-to-be-active-in-2023/3306 https://login.esgian.com/articles/offshore-fids-to-be-active-in-2023/3306"  
[X Link](https://x.com/Ultradeep3/status/1619271569863487490)  2023-01-28T09:50Z [----] followers, [----] engagements


"More signs of the #offshore top $NOV $OIH #offshore top is in $OIH $RIG $NE $VAL #offshore top is in $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1622753301543657472)  2023-02-07T00:25Z [----] followers, 14.8K engagements


"$NOV rig reactivation/completion cost estimates $OIH $RIG $NE $VAL Stranded drillships: $300-350mm (all-in including acquisition cost) Cold-stacked drillship reactivation: $20-125mm"  
[X Link](https://x.com/Ultradeep3/status/1623115462782631937)  2023-02-08T00:24Z [----] followers, 14.8K engagements


"$OIH haters down bad $SLB $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1623248626897276928)  2023-02-08T09:13Z [----] followers, 12.9K engagements


"$VTDRF $200mm 5yr @ 9.5% $VTDRF Vantage Drillingbuying more time with valuations rising #offshore https://t.co/phZooPheRb $VTDRF Vantage Drillingbuying more time with valuations rising #offshore https://t.co/phZooPheRb"  
[X Link](https://x.com/Ultradeep3/status/1625667979672453120)  2023-02-15T01:27Z [----] followers, [----] engagements


"Cleansing materials $OIH $VTDRF #offshore https://vantagedrilling.com/wp-content/uploads/2023/02/Vantage-Drilling-4a2-Investor-Presentation-Feb-2023-4871-1219-2081-5.pdf $VTDRF $200mm 5yr @ 9.5% https://t.co/Y3sCqXzwAP https://vantagedrilling.com/wp-content/uploads/2023/02/Vantage-Drilling-4a2-Investor-Presentation-Feb-2023-4871-1219-2081-5.pdf $VTDRF $200mm 5yr @ 9.5% https://t.co/Y3sCqXzwAP"  
[X Link](https://x.com/Ultradeep3/status/1625765200589889536)  2023-02-15T07:53Z [----] followers, [----] engagements


"$VAL likely anticipated but not a good look"  
[X Link](https://x.com/Ultradeep3/status/1633035823548608512)  2023-03-07T09:24Z [----] followers, 12.7K engagements


"Good luck to the $CS AT1 litigatooors $CS $UBS $POPSM #AT1 https://curia.europa.eu/jcms/upload/docs/application/pdf/2022-06/cp220090en.pdf https://curia.europa.eu/jcms/upload/docs/application/pdf/2022-06/cp220090en.pdf"  
[X Link](https://x.com/Ultradeep3/status/1637752348964470789)  2023-03-20T09:46Z [----] followers, 10.3K engagements


"$RIG $5 price target - you love to see it $OIH $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1639608041497587712)  2023-03-25T12:39Z [----] followers, 12.4K engagements


"Ascension is coming $OXY $OXY https://t.co/WV52W2Bjjx $OXY https://t.co/WV52W2Bjjx"  
[X Link](https://x.com/Ultradeep3/status/1640511154320441345)  2023-03-28T00:28Z [----] followers, [----] engagements


"$OIH $RIG $VAL $NE $DO Potentially heading towards a HE rig shortage https://login.esgian.com/articles/north-sea-rigs-what-they-re-doing-and-where-they-re-going/3560 https://login.esgian.com/articles/north-sea-rigs-what-they-re-doing-and-where-they-re-going/3560"  
[X Link](https://x.com/Ultradeep3/status/1641785426548539393)  2023-03-31T12:52Z [----] followers, 10.9K engagements


"$VTDRF & $RIG"  
[X Link](https://x.com/Ultradeep3/status/1642870541856940032)  2023-04-03T12:43Z [----] followers, [----] engagements


"So that $VAL balance sheet was not so stronk after all"  
[X Link](https://x.com/Ultradeep3/status/1643010424504299520)  2023-04-03T21:59Z [----] followers, [----] engagements


"Bearish $RIG substack piece out there reminiscent of the $BTU vs $ARCH debates from [----]. Most know how that ended"  
[X Link](https://x.com/Ultradeep3/status/1643320302045126661)  2023-04-04T18:31Z [----] followers, 18K engagements


"#offshore weekend update $OIH $RIG $VAL $NE 1/4"  
[X Link](https://x.com/Ultradeep3/status/1644768929540128769)  2023-04-08T18:27Z [----] followers, 22.9K engagements


"When these are gone what happens to asset values $OIH $RIG $NE $VAL Eldorado Drilling (backed by Tor Olav Troim) announced the acquisition of Pacific Zonda its 2nd stranded 7G drillship purchase after the W. Dorado. With $RIG potentially taking the W. Libra this would leave the stranded 7G market close to sold out. 2/4 https://t.co/gXrLadWemt Eldorado Drilling (backed by Tor Olav Troim) announced the acquisition of Pacific Zonda its 2nd stranded 7G drillship purchase after the W. Dorado. With $RIG potentially taking the W. Libra this would leave the stranded 7G market close to sold out. 2/4"  
[X Link](https://x.com/Ultradeep3/status/1647935172329758720)  2023-04-17T12:08Z [----] followers, 21.8K engagements


"Starting to get bearish on #offshore after listening to the $SLB call $OIH"  
[X Link](https://x.com/Ultradeep3/status/1649511177582419970)  2023-04-21T20:31Z [----] followers, 18.7K engagements


"$NOV drillship reactivation/completion cost + potential supply estimates $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1651796685176315904)  2023-04-28T03:53Z [----] followers, [----] engagements


"Currently reading - The Shape of These Monsters. Good study on path dependence in offshore drilling technology. $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1655432585185746945)  2023-05-08T04:40Z [----] followers, [----] engagements


"Weekend reading $OIH $RIG $NE $VAL Offshore OutlookThigpen https://pageraftstaging.nxtbook.com/gulf_energy_information/world_oil/april_2023/special_focus_offshore_outloo.html https://pageraftstaging.nxtbook.com/gulf_energy_information/world_oil/april_2023/special_focus_offshore_outloo.html"  
[X Link](https://x.com/Ultradeep3/status/1657264077411061761)  2023-05-13T05:58Z [----] followers, 15.1K engagements


"$OIH $RIG $NE $VAL The fake floater cycle rolls on"  
[X Link](https://x.com/Ultradeep3/status/1658035409186885636)  2023-05-15T09:03Z [----] followers, [----] engagements


"Floater fake cycle confirmed $RIG $NE $VAL $BORR"  
[X Link](https://x.com/Ultradeep3/status/1659527745096024067)  2023-05-19T11:53Z [----] followers, [----] engagements


"Best #offshore bear take I have seen in a while but mostly stuff from the risks section of an SEC filing. Cycle matters most while firm/industry structure should limit bad behavior. $RIG 13Fs do not suggest a wave of new buyers. I am a steel value non-believer. $OIH $RIG $VAL $NE"  
[X Link](https://x.com/Ultradeep3/status/1661196237369147398)  2023-05-24T02:23Z [----] followers, [--] engagements


"I am enjoying the $ZM $NVDA analogs"  
[X Link](https://x.com/Ultradeep3/status/1661526896214147073)  2023-05-25T00:17Z [----] followers, [--] engagements


"#Offshore $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1662014129933258754)  2023-05-26T08:33Z [----] followers, [----] engagements


"$PBR deepwater"  
[X Link](https://x.com/Ultradeep3/status/1666737639083610113)  2023-06-08T09:23Z [----] followers, [----] engagements


"Taking the under $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1668524746630377472)  2023-06-13T07:44Z [----] followers, [--] engagements


"@Hierony69122434 @ICBarrett @NICKRADICAL4 @Laz_Cap @trader_ferg @OttoMaddox42 @FoamOnTheRunway @ArchiteuthisDx @CorneliaLake Given the recent history of stranded newbuilds/debt restructurings (ie major losses for shipyards) I think a key issue is going to be payment terms for a new order when almost the entire industry has shareholders obsessed with near-term capital returns"  
[X Link](https://x.com/Ultradeep3/status/1669305756221599744)  2023-06-15T11:28Z [----] followers, [--] engagements


"$OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1670627467273580544)  2023-06-19T03:00Z [----] followers, [--] engagements


"#offshore thesis on one slide $OIH $SLB $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1671769217618837504)  2023-06-22T06:36Z [----] followers, [----] engagements


"@FMetard If you expect a super long cycle with DRs flying & legacy rigs w/zero asset value getting contracted due to scarcity value then $DDRIL.NO will work but in this scenario there will be far better investments"  
[X Link](https://x.com/Ultradeep3/status/1672199648659017728)  2023-06-23T11:07Z [----] followers, [---] engagements


"@AAlsome1 Fair weather friendI may need to block you"  
[X Link](https://x.com/Ultradeep3/status/1674612135291392000)  2023-06-30T02:53Z [----] followers, [--] engagements


"Another nice step-up on an HE dayrate fixture $RIG https://www.deepwater.com/news/detailID=27901 https://www.deepwater.com/news/detailID=27901"  
[X Link](https://x.com/Ultradeep3/status/1676745497888063489)  2023-07-06T00:10Z [----] followers, [----] engagements


"$OIH $NE $RIG $VAL"  
[X Link](https://x.com/Ultradeep3/status/1677232912079654912)  2023-07-07T08:27Z [----] followers, [----] engagements


"$OIH $RIG $NE $VAL Rig reactivation discipline holding"  
[X Link](https://x.com/Ultradeep3/status/1681209475485794304)  2023-07-18T07:49Z [----] followers, [--] engagements


"@Btico19 Of the major listed drillers of course he picked $VALthesis remains intact"  
[X Link](https://x.com/Ultradeep3/status/1682697177582428164)  2023-07-22T14:01Z [----] followers, [----] engagements


"$NOV #offshore $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1684726582689349632)  2023-07-28T00:44Z [----] followers, [----] engagements


"Video: An Offshore Renaissance 🎨 $OIH $RIG $NE $VAL http://www.offshore-mag.com/videos/video/14297074/video-an-offshore-renaissance http://www.offshore-mag.com/videos/video/14297074/video-an-offshore-renaissance"  
[X Link](https://x.com/Ultradeep3/status/1685927789474775041)  2023-07-31T08:18Z [----] followers, [----] engagements


"#offshore $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1687402250451509248)  2023-08-04T09:57Z [----] followers, [----] engagements


"$30 PT implied EV $26bn ($13bn now). [----] v 2Q2023: net debt -$1bn shrs out +157mm utilz: 59%/55% UDW fleet: +2 8G/net [--] UDW rigs stacked inc ORIG UDW DR: $357k/$381k 1y fwd avg UDW DR: $376k/$433k. Current PT from same analyst: $12 ($16bn EV). We just getting started $RIG"  
[X Link](https://x.com/Ultradeep3/status/1688121900097298432)  2023-08-06T09:36Z [----] followers, 12.5K engagements


"@GrandTokamak Basically a China hedge but with the underlying credits having minimal default risk (SOEs/sovereigns etc). 🤡 show"  
[X Link](https://x.com/Ultradeep3/status/1688842225017552896)  2023-08-08T09:18Z [----] followers, [---] engagements


"Interesting comments from the $NE $DO calls #offshore $RIG $VAL"  
[X Link](https://x.com/Ultradeep3/status/1689074371535773696)  2023-08-09T00:41Z [----] followers, [----] engagements


"@FoamOnTheRunway @ICBarrett @ElementaryValue $RIG posts get the bulk of engagement. The fact that the equity survived probably explains most of it as well as dollar price around the lows. $OXY $BTU had similar trajectories"  
[X Link](https://x.com/Ultradeep3/status/1690861726370324480)  2023-08-13T23:03Z [----] followers, [--] engagements


"$VAL contracting/reactivation strategy remains awful"  
[X Link](https://x.com/Ultradeep3/status/1691028851634425857)  2023-08-14T10:07Z [----] followers, [----] engagements


"$RIG 13F - top [--] (Mohn 11% Vanguard 9% Primecap 6% Capital 4% Slate Path 3%). Contrarius sold 19mm shrs moving out of top [--]. Capital added 18mm moving into top [--]. RIG a top [--] holding for Slate Path (6% exp)"  
[X Link](https://x.com/Ultradeep3/status/1691356665227177984)  2023-08-15T07:50Z [----] followers, [----] engagements


"Energy sector commentary is wild"  
[X Link](https://x.com/Ultradeep3/status/1692487982786469953)  2023-08-18T10:45Z [----] followers, [----] engagements


"$RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1694980381530034450)  2023-08-25T07:49Z [----] followers, [----] engagements


"$VAL DS7 - Samsung [----] (7G) / hookload [----] st / Max water depth: 10k ft / Max drilling depth: 40k ft / Dual BOPs / effective DR: $375k $RIG KG1 - Samsung [----] (6G) / hookload [----] st / Max water depth: 10k ft / Max drilling depth: 35k ft / Single BOP / effective DR: $352k"  
[X Link](https://x.com/Ultradeep3/status/1697081468252749894)  2023-08-31T02:58Z [----] followers, [----] engagements


"@FoolAllTheTime Walmsley has broken the American male UTMB curse but the Dauwalter Western States Hardrock UTMB victories in succession feels like something that wont be repeated"  
[X Link](https://x.com/Ultradeep3/status/1699001622737904034)  2023-09-05T10:08Z [----] followers, [---] engagements


"@ICBarrett @TommyDeepwater The Westwood Energy report is worth reading. Expect higher likelihood of newbuilds for JUs as opposed to floaters"  
[X Link](https://x.com/Ultradeep3/status/1699341833338560632)  2023-09-06T08:40Z [----] followers, [---] engagements


"@MugsLuck @NatgasTurk West Aquila (7G high-spec stranded NB) was acquired by Liquila Ventures for $200mm. Liquila is a JV betw RIG/Perestroika/Lime Rock. RIG contributed $15mm to the JV & has the right to manage/mkt the rig & likely a buyout option. Upgrades fleet w/o significant initial investment"  
[X Link](https://x.com/Ultradeep3/status/1700394634407796936)  2023-09-09T06:24Z [----] followers, [---] engagements


"@MugsLuck @ICBarrett @NatgasTurk @TommyDeepwater @OnlyFol35201188 Think dayrate reflects Saipems close relationship with a major customer (Eni) so I would not read too much into it"  
[X Link](https://x.com/Ultradeep3/status/1701002767287161059)  2023-09-10T22:40Z [----] followers, [---] engagements


"@ed_fin Not really material (80 days @ $410k and then [---] days back down @ $254k due to Totals option exercise) but again highlights the issues with $VAL contracting strategy"  
[X Link](https://x.com/Ultradeep3/status/1701524173749936343)  2023-09-12T09:12Z [----] followers, [----] engagements


"@MugsLuck @TommyDeepwater Old enough to remember the Josh Young/Kuppy CAT-D rigs put that was going to create a massive hole in the balance sheet in [--] days and that was less than one year ago. Pretty sure we are going to survive the massive dilution from the Aquila buyout/capex"  
[X Link](https://x.com/Ultradeep3/status/1703168058284798046)  2023-09-16T22:04Z [----] followers, [----] engagements


"60-65% combined market shareits happening .gif"  
[X Link](https://x.com/Ultradeep3/status/1703679971083129313)  2023-09-18T07:58Z [----] followers, [----] engagements


"@GumdropCap Still a low net leveraged balance sheet. $250mm share repurchase program just throwing a bone to the distressed holders"  
[X Link](https://x.com/Ultradeep3/status/1704429353621483754)  2023-09-20T09:36Z [----] followers, [--] engagements


"$RIG $NE $VAL $SDRL $OIH"  
[X Link](https://x.com/Ultradeep3/status/1705021691641172431)  2023-09-22T00:50Z [----] followers, [----] engagements


"@oracleof90402 I could get to $60 but stock is illiquid assets lower tier & unclear if there would be aggressive strategic interest"  
[X Link](https://x.com/Ultradeep3/status/1705047772184092798)  2023-09-22T02:34Z [----] followers, [--] engagements


"I have not included these in my global drillship supply/demand model $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1706619024271130739)  2023-09-26T10:37Z [----] followers, [----] engagements


"@FoamOnTheRunway @TommyDeepwater Bring on the West Libra"  
[X Link](https://x.com/Ultradeep3/status/1706820370966405162)  2023-09-26T23:57Z [----] followers, [---] engagements


"$360k: DW dayrates are collapsing. I am rotating into JU and OSV exposures"  
[X Link](https://x.com/Ultradeep3/status/1707662744298872889)  2023-09-29T07:44Z [----] followers, 26.8K engagements


"I am taking full responsibility for the current 15-20% drawdown (from the highs) on $RIG and any/all future corrections. Please unfollow/block"  
[X Link](https://x.com/Ultradeep3/status/1709673265525039145)  2023-10-04T20:54Z [----] followers, [----] engagements


"@OtterMarket Dont think there was ever a fundamental long thesis but the short squeeze thesis was powerful"  
[X Link](https://x.com/Ultradeep3/status/1711325787574632957)  2023-10-09T10:20Z [----] followers, [---] engagements


"uh ohmoar dilution and cliff diving up ahead ($101mm principal of the 2025/2029 exchangeables converted w/additional consideration in shares) $RIG"  
[X Link](https://x.com/Ultradeep3/status/1711919611569180832)  2023-10-11T01:40Z [----] followers, 28.4K engagements


"3Q [----] start date nice.gif $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1712739146069119118)  2023-10-13T07:56Z [----] followers, [----] engagements


"The NCS has fallen $RIG https://coscoht.com/cosco-shipping-specializeds-xin-guang-hua-loaded-with-a-semi-sub-drilling-rig-in-the-north-sea/ https://coscoht.com/cosco-shipping-specializeds-xin-guang-hua-loaded-with-a-semi-sub-drilling-rig-in-the-north-sea/"  
[X Link](https://x.com/Ultradeep3/status/1713136274218094785)  2023-10-14T10:14Z [----] followers, [----] engagements


"$OIH $RIG $NE $SDRL $VAL"  
[X Link](https://x.com/Ultradeep3/status/1714547292118942039)  2023-10-18T07:41Z [----] followers, [----] engagements


"@NatgasTurk Agree (Polaris/DS-4 6G & Auriga 7G). If we are early mid-cycle then dayrate/contract duration probably not appealing for the operators that have not been selected"  
[X Link](https://x.com/Ultradeep3/status/1714557675785322574)  2023-10-18T08:22Z [----] followers, [---] engagements


"@RoyalFlush77777 Whether rumor/reality this news has likely been in the mkt $VAL always underbids - no surprise $SLB just confirmed offshore upcycle high-spec rigs owned by reputable drillers will not be aggressively offered down given reality of S/D further industry consolidation needed"  
[X Link](https://x.com/Ultradeep3/status/1715594349042610433)  2023-10-21T05:02Z [----] followers, [---] engagements


"For trew beleavers: Long wicks @ 200d across $RIG $VAL $SDRL $DO"  
[X Link](https://x.com/Ultradeep3/status/1716010873154900333)  2023-10-22T08:37Z [----] followers, [----] engagements


"Expect $VAL to bid this just slightly above breakeven & Nordic brokers to reiterate their buy recommendations on cheap steel value $OIH $RIG $NE"  
[X Link](https://x.com/Ultradeep3/status/1717835278214393934)  2023-10-27T09:27Z [----] followers, [----] engagements


"$NOV call summary: at first I was like 😬 but then I was like 😎1/2 $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1718610619899969955)  2023-10-29T12:47Z [----] followers, [----] engagements


"Stock: Flat Volume: High-ish Implied [--] EBITDA: $1400mm Implied [--] FCF: $600mm Sell-side analysts: Grasping at straws Cliff: Climbing Narrow window: Wide open $RIG"  
[X Link](https://x.com/Ultradeep3/status/1719498898782433300)  2023-10-31T23:37Z [----] followers, [----] engagements


"$RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1720363124082262054)  2023-11-03T08:51Z [----] followers, [----] engagements


"@ICBarrett @OnlyFol35201188 @CorneliaLake Has $VAL found religion with dayrates plateau-ing (for now) and its expectation that legacy breakeven contracts would roll into market rates"  
[X Link](https://x.com/Ultradeep3/status/1722030392386159008)  2023-11-07T23:16Z [----] followers, [---] engagements


"#offshore margin call $RIG $NE $VAL $SDRL $OIH"  
[X Link](https://x.com/Ultradeep3/status/1722408420320612638)  2023-11-09T00:19Z [----] followers, 12K engagements


"Doomers getting excited about a change in outlook (not credit rating) to negative for an Aaa-rated sovereign"  
[X Link](https://x.com/Ultradeep3/status/1723119882391478614)  2023-11-10T23:26Z [----] followers, [----] engagements


"@FoamOnTheRunway @hkuppy @CorneliaLake The offshore Puritans are back. Only by writing down the stacked fleet can we achieve salvation"  
[X Link](https://x.com/Ultradeep3/status/1725788815204462597)  2023-11-18T08:11Z [----] followers, [----] engagements


"@ICBarrett Substack & spaces coming upstay tuned"  
[X Link](https://x.com/Ultradeep3/status/1727768587027550568)  2023-11-23T19:18Z [----] followers, [---] engagements


"Energy midwits down bad $PBR $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1729070490327908589)  2023-11-27T09:31Z [----] followers, [----] engagements


"@Shearer19711971 End [--] liquidity remains 1.5-1.7bn so cash generation should be similar to the guidance provided in 3Q earnings call"  
[X Link](https://x.com/Ultradeep3/status/1730181871554924918)  2023-11-30T11:07Z [----] followers, [---] engagements


"@Hierony69122434 The [--] stacked 7G rigs are the main targets for reactivation (but not speculatively)"  
[X Link](https://x.com/Ultradeep3/status/1730362007357161862)  2023-11-30T23:03Z [----] followers, [---] engagements


"The cycle is over. Let the scrapping of cold-stacked rigs commence $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1733379007654117650)  2023-12-09T06:52Z [----] followers, 15K engagements


"@MugsLuck @TommyDeepwater I am not going to wade into the gloater/hack-up debate"  
[X Link](https://x.com/anyuser/status/1735995142392463750)  2023-12-16T12:07Z [--] followers, [---] engagements


"RigLogix currently records a total of [--] tendersout in the market with a start date in [----] that have a firm duration of 2-5 yearsincluding those with start dates in 2025/2026 this figure increases to [--] $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1737358072941863107)  2023-12-20T06:23Z [----] followers, [----] engagements


"$OIH $RIG $NE $VAL - M&A - Stranded drillship supply gone - DR/contracting momentum reemerges - Lowest steel valuation = most attractive stocks 🤔 - As for me I like the setup"  
[X Link](https://x.com/Ultradeep3/status/1738110046301745433)  2023-12-22T08:11Z [----] followers, 11.9K engagements


"2024 #offshore portfolio strategy $RIG $NE $VAL $SDRL $DO 1/1"  
[X Link](https://x.com/Ultradeep3/status/1739962727081353336)  2023-12-27T10:53Z [----] followers, [----] engagements


"@MugsLuck JUs are the only tight market"  
[X Link](https://x.com/Ultradeep3/status/1740875370973519882)  2023-12-29T23:20Z [----] followers, [---] engagements


"@MugsLuck My favorite academic study on offshore driller valuation (dont show it to the steel value stans) #offshore weekend reading $OIH $RIG $NE $VAL $SDRL https://t.co/4DTS9j40Hc #offshore weekend reading $OIH $RIG $NE $VAL $SDRL https://t.co/4DTS9j40Hc"  
[X Link](https://x.com/Ultradeep3/status/1741651649280778515)  2024-01-01T02:44Z [----] followers, [----] engagements


"@oilgastourist .OL ticker for Brazil-based E&P company = 🚩"  
[X Link](https://x.com/Ultradeep3/status/1742133261667860822)  2024-01-02T10:38Z [----] followers, [---] engagements


"Unsurprisingly 6G rigs get clean 6G dayrates (which are decent). No need for the obfuscation. $SDRL $VAL"  
[X Link](https://x.com/Ultradeep3/status/1742472853315043377)  2024-01-03T09:07Z [----] followers, 15.5K engagements


"@TommyDeepwater @Hierony69122434 [--] x (low $300mm acquisition cost funded through new debt/equity/cash + [--] years of stacking + $75-150mm reactivation)"  
[X Link](https://x.com/Ultradeep3/status/1743792428652572673)  2024-01-07T00:31Z [----] followers, [---] engagements


"@CuriousCowCap @Alpaca_Capital @ICBarrett @churnerofmarket @CorneliaLake The shorts are mainly the 4.625% convertible bondholders that are delta hedging. The largest holder is Hudson Bay Capital followed by Whitebox (based on 3Q filings)"  
[X Link](https://x.com/Ultradeep3/status/1745733828071592430)  2024-01-12T09:05Z [----] followers, [---] engagements


"@MugsLuck @_EnergyRealist The [--] RIG (formerly ORIG) 7G rigs are in Greece"  
[X Link](https://x.com/Ultradeep3/status/1746362314897629391)  2024-01-14T02:43Z [----] followers, [---] engagements


"Whats happening here $OIH $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1752289536313623000)  2024-01-30T11:15Z [----] followers, [----] engagements


"Credit/equity/macro/insolvency experts commenting on $RIG credit/equity"  
[X Link](https://x.com/Ultradeep3/status/1752549785851355350)  2024-01-31T04:30Z [----] followers, 11K engagements


"Checking in on $NOV - recent headlines appear JU specific $OIH 1/2"  
[X Link](https://x.com/Ultradeep3/status/1753609260926373929)  2024-02-03T02:40Z [----] followers, [----] engagements


"@hurtingbombz Will street riots be permitted when the inevitable happens"  
[X Link](https://x.com/Ultradeep3/status/1755147125418238078)  2024-02-07T08:30Z [----] followers, [---] engagements


"$DO BlackLion 7G 2yr extension in GOM @ $480k DR"  
[X Link](https://x.com/Ultradeep3/status/1755509576886366467)  2024-02-08T08:31Z [----] followers, [----] engagements


"@NICKRADICAL4 @_EnergyRealist Insolvency has a balance sheet and liquidity element. An insolvency argument failed back in [----] so people making similar claims in the current environment have a certain agenda"  
[X Link](https://x.com/Ultradeep3/status/1756464938846236817)  2024-02-10T23:47Z [----] followers, [---] engagements


"Whos going to tell them about the insolvency issue"  
[X Link](https://x.com/Ultradeep3/status/1757210321864077700)  2024-02-13T01:09Z [----] followers, [----] engagements


"#offshore earnings season - thoughts & prayers 🙏 $RIG $VAL $NE $BORR $DDRIL.OL"  
[X Link](https://x.com/Ultradeep3/status/1759536838568714384)  2024-02-19T11:14Z [----] followers, [----] engagements


"$RIG - why I remain bearish -Delays in contract starts are borne by the company eg a [--] mth delay from the orig. start date for a [--] month contract implies the client only pays a DR for [--] mths. Many rigs will now work for free. -Hit me up on my substack for more valuable insights"  
[X Link](https://x.com/Ultradeep3/status/1760099990435971428)  2024-02-21T00:31Z [----] followers, [----] engagements


"@MikeFritzell Stamp duties remain just not the additional duties that were levied when the housing market was ripping (which seems like ancient history at this point)"  
[X Link](https://x.com/Ultradeep3/status/1762777508980908377)  2024-02-28T09:51Z [----] followers, [---] engagements


"$SDRL $DO DOA I am going to assume this is mostly posturing although think a transaction is not straightforward $RIG $NE $VAL"  
[X Link](https://x.com/Ultradeep3/status/1762987038901703133)  2024-02-28T23:43Z [----] followers, [----] engagements


"you love to see it .gif $BORR $RIG $VAL $NE"  
[X Link](https://x.com/Ultradeep3/status/1763146938151805364)  2024-02-29T10:19Z [----] followers, [----] engagements


"$SDRL someone anyonelets get a deal done in the near future $OIH $DO $VAL $NE $RIG"  
[X Link](https://x.com/Ultradeep3/status/1764944953246179818)  2024-03-05T09:24Z [----] followers, [----] engagements


"Flat DRs despite tepid floater contracting over past 2-3 quarters suggests the long cycle remains intact $OIH $RIG $NE $VAL $SDRL"  
[X Link](https://x.com/Ultradeep3/status/1766035465004884201)  2024-03-08T09:37Z [----] followers, [----] engagements


"@OtterMarket There are more value podcasts than value opportunities"  
[X Link](https://x.com/Ultradeep3/status/1776044719866540213)  2024-04-05T00:30Z [----] followers, [---] engagements


"@InnocenceCapit1 @SkeleCap First day of stocks went down and people are blaming the non-existent value guys"  
[X Link](https://x.com/Ultradeep3/status/1776190146976895379)  2024-04-05T10:08Z [----] followers, [---] engagements


"@themavlife $BTU v $ARCH fight [--] years ago was much more heated"  
[X Link](https://x.com/Ultradeep3/status/1777855539273478582)  2024-04-10T00:26Z [----] followers, [---] engagements


"@MikeFritzell @InvestRoiss @GlobalStockPick @searching4value YoY retail sales comps are awful for Jan & Feb 2024"  
[X Link](https://x.com/Ultradeep3/status/1778735573618065649)  2024-04-12T10:43Z [----] followers, [--] engagements


"$RIG $NE $VAL The pace of offshore project FIDs is expected to remain strong this year despite a relatively slow rig contracting cycle in 1Q 2024Thirteen deepwater projects expected to reach final investment decision in [----] says Evercore ISI. https://www.offshore-mag.com/field-development/article/55018520/report-pace-of-offshore-project-fids-expected-to-remain-strong-this-year https://www.offshore-mag.com/field-development/article/55018520/report-pace-of-offshore-project-fids-expected-to-remain-strong-this-year"  
[X Link](https://x.com/Ultradeep3/status/1780506708768686261)  2024-04-17T08:00Z [----] followers, [----] engagements


"@choffstein As effective as the covid vaccine"  
[X Link](https://x.com/Ultradeep3/status/1781841043086008694)  2024-04-21T00:23Z [----] followers, [---] engagements


"@MugsLuck EBITDA 199mm v company guidance of 188mm. Unscheduled maintenance for Titan BOP probably 1-2 months of downtime so clean EBITDA likely 210-230mm. Significant ramp in revenues/cash flow over coming quarters"  
[X Link](https://x.com/Ultradeep3/status/1785083418038120803)  2024-04-29T23:07Z [----] followers, 11K engagements


"@teerpnam1 @GrtMarc @MugsLuck I see a fully diluted share count of 962mm inc 22mm warrants attached to the 4.625% [----] EBs. Both the 4%/4.625% EBs will convert which deleverages the BS by 493mm. Note that the 4.625% EB was a transaction forced upon the company in [--] to maintain access to the RCFbygones"  
[X Link](https://x.com/Ultradeep3/status/1785800528074809408)  2024-05-01T22:36Z [----] followers, [---] engagements


"@SFarringtonBKC @Twasluck1 Tourist hell with the JPY at these levels"  
[X Link](https://x.com/Ultradeep3/status/1786794050420441379)  2024-05-04T16:24Z [----] followers, [--] engagements


"$DO cooking up another 30d fake dayrate $OIH $RIG $VAL $NE"  
[X Link](https://x.com/Ultradeep3/status/1788186515446587441)  2024-05-08T12:37Z [----] followers, [----] engagements


"OSV - Key technologies $TDW"  
[X Link](https://x.com/Ultradeep3/status/1790042005856293048)  2024-05-13T15:30Z [----] followers, [----] engagements


"@MugsLuck $DO fake $600k dayrates down bad"  
[X Link](https://x.com/Ultradeep3/status/1790505202828652875)  2024-05-14T22:11Z [----] followers, [---] engagements


"Imagine believing that anything other than dividends/buybacks could deliver value to shareholders of a company with a leveraged balance sheet $RIG Live look at the Pool Boy As for $RIG needing a few years before returning capital to shareholders. Though a fringe idea on twitter I agree with COO Adamson. "From a returning cash point of view.Our share appreciation as it grows with dayrates is similar to a dividend" Fight me if you must. You wrong https://t.co/vlPaQXZNfS As for $RIG needing a few years before returning capital to shareholders. Though a fringe idea on twitter I agree with COO"  
[X Link](https://x.com/Ultradeep3/status/1796683450428305896)  2024-05-31T23:21Z [----] followers, [----] engagements


"$OIH $RIG $NE $SDRL $VAL $DO"  
[X Link](https://x.com/Ultradeep3/status/1797975399298953596)  2024-06-04T12:55Z [----] followers, 29.3K engagements


"It is happening this year $RIG @MugsLuck Probably not happening this year but time to take full ownership of the Norge (Related Party Transactions pp 51-52) @MugsLuck Probably not happening this year but time to take full ownership of the Norge (Related Party Transactions pp 51-52)"  
[X Link](https://x.com/Ultradeep3/status/1798062479542772110)  2024-06-04T18:41Z [----] followers, 15K engagements


"@TheSeeqer @FoamOnTheRunway Post the Hayfin buyout Norge will earn the full contracted dayrate rather than the shit management fee it has been receiving over the past [--] years. Someone may need to up some earnings estimates"  
[X Link](https://x.com/Ultradeep3/status/1798147472134676917)  2024-06-05T00:18Z [----] followers, [---] engagements


"@upcmichael Hayfin should earn an IRR on its stake as effectively a financing for RIGs purchase of the vessel. JV structure w/RIG the minority partner likely allowed Norge to operate on NCS w/o triggering competition issues. Comp issues no longer relevant w/move of some of HE fleet to Aus"  
[X Link](https://x.com/Ultradeep3/status/1798257603400868095)  2024-06-05T07:36Z [----] followers, [---] engagements


"@CliffEngleLtd @TommyDeepwater RIG had a lot of legacy clean ups (in aisle 5) as industry started to recover: ORIG 8G NBs RCF near/mid debt due. Some outcomes have been ugly (22 convert) & others decent (debt refi NBs). Re Norge you can focus on dilution or replacement val/contracts out to mid-28"  
[X Link](https://x.com/Ultradeep3/status/1799251931464155347)  2024-06-08T01:27Z [----] followers, [---] engagements


"$OIH $NE $DO $RIG $VAL $SDRL slightly off on the acquiror but more to come. $OIH $RIG $NE $SDRL $VAL $DO https://t.co/KqXwpyGZT8 $OIH $RIG $NE $SDRL $VAL $DO https://t.co/KqXwpyGZT8"  
[X Link](https://x.com/Ultradeep3/status/1800075618266300836)  2024-06-10T08:00Z [----] followers, 26.3K engagements


"@businessgopher RIG will own the 100% of the Norge post regulatory approval/buyout of the majority shareholder (estimate $425mm payment of which 25% equity/75% debt)"  
[X Link](https://x.com/Ultradeep3/status/1801789743602274801)  2024-06-15T01:32Z [----] followers, [---] engagements


"@UnironicOilBull @CliffEngleLtd Ill be honest hereif potential dilution from a $100mm equity financing related to a 100% acquisition of a high-spec HE rig with a replacement value of $1bn breaks ones investment thesis then the thesis was wrong"  
[X Link](https://x.com/Ultradeep3/status/1803739256898383934)  2024-06-20T10:38Z [----] followers, [---] engagements


"$RIG acquisition of 67% stake in Norge: $130mm notes/55.5mm shares ($425mm total consideration) $RIG Norgeunsurprisingly the haters forgot about the backlog https://t.co/w74f7FNzaz $RIG Norgeunsurprisingly the haters forgot about the backlog https://t.co/w74f7FNzaz"  
[X Link](https://x.com/Ultradeep3/status/1806816812832866555)  2024-06-28T22:27Z [----] followers, 12.4K engagements


"@GrtMarc @hammerinvesting Esgian values Norge @ $412-455mm (charter free). Norge Bollsta & Mira are all Moss Maritime CS60 design so should be valued similarly but expect that RIG has put more into upgrades vs NOL. JF sees the future valuation writing on the wall so do not expect a sale/attractive MGO"  
[X Link](https://x.com/Ultradeep3/status/1810827170857767266)  2024-07-10T00:03Z [----] followers, [---] engagements


"Just like we drew it up $RIG $BP"  
[X Link](https://x.com/Ultradeep3/status/1818841594700972462)  2024-08-01T02:50Z [----] followers, [----] engagements


"@HomosexualMan1 Keep diggingthis diluted shares are down there (might need to dig all the way to earths core though)"  
[X Link](https://x.com/Ultradeep3/status/1820592969420075230)  2024-08-05T22:49Z [----] followers, [---] engagements


"@Alpaca_Capital Zero demand (currently) for lower-spec rigs. Both NE/VAL have jack-up exposure and potentially more shoes to drop regarding those assets. But the major factor is offshore equities are classified in the sector that starts with an E"  
[X Link](https://x.com/Ultradeep3/status/1823862499328057465)  2024-08-14T23:21Z [----] followers, [----] engagements


"@ProSyn @SRoach_econ @KamalaHarris @Tim_Walz L O L"  
[X Link](https://x.com/Ultradeep3/status/1825862363637232075)  2024-08-20T11:48Z [----] followers, [--] engagements


"But what about the dilution associated with the acquisition of the Norge $RIG #Norway calls on oil firms to boost exploration and investment #oott https://t.co/wPxo1n30qN #Norway calls on oil firms to boost exploration and investment #oott https://t.co/wPxo1n30qN"  
[X Link](https://x.com/Ultradeep3/status/1826199731728736733)  2024-08-21T10:08Z [----] followers, [----] engagements


"@Edark94 Nothing says we have a liquidity issue like gold prepayments and RCF restructuring"  
[X Link](https://x.com/Ultradeep3/status/1826206365469348187)  2024-08-21T10:35Z [----] followers, [---] engagements


"@CliffEngleLtd @gruust Read the 2Q earnings call transcript"  
[X Link](https://x.com/Ultradeep3/status/1826770747358150976)  2024-08-22T23:57Z [----] followers, [---] engagements


"@noica33 Backlog-adjusted steel values (per rig) for ODL NOL Norge (acquisition price) are $400 $300 $500mm respectively so 1.7x upside for NOL to a Norge val. RIG the obvious buyer but would entail more share dilution and doubt JF a motivated seller until (much) higher valuations"  
[X Link](https://x.com/Ultradeep3/status/1827968291874406870)  2024-08-26T07:16Z [----] followers, [---] engagements


"@noica33 Hayfin owns 20% of NOL after converting part of a debt financing so this could potentially accelerate a comprehensive resolution"  
[X Link](https://x.com/Ultradeep3/status/1828072997766508835)  2024-08-26T14:12Z [----] followers, [--] engagements


"@agnostoxxx Very convenient for OPEC that Libya is shut down and now those barrels that were held out of the market will find a home. And the bears that were hoping for a collapse in oil prices due to those barrels coming back to the market over the next few months are now fucked"  
[X Link](https://x.com/Ultradeep3/status/1830182576306479522)  2024-09-01T09:55Z [----] followers, [----] engagements

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