NEW YORK, March 29 (Reuters) - Shares of offshore drillers Transocean Ltd, Diamond Offshore Drilling Inc and Noble Corp have the potential to jump significantly in the next 12 to 18 months, Barron's reported on Sunday, due in part to expected increases in the price of oil.
Barron's said the oil drillers' shares could rise 25 percent to 100 percent, since they are poised to benefit from large underwater deposits.
Even if oil prices recede, Barron's said the companies are 'well-equipped to weather a prolonged storm, owing to backlogs that amount to some three years of boom-time revenues.'
(Reporting by Martinne Geller, editing by Maureen Bavdek) Keywords: OILDRILLERS/SHARES (Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Barron's said the oil drillers' shares could rise 25 percent to 100 percent, since they are poised to benefit from large underwater deposits.
Even if oil prices recede, Barron's said the companies are 'well-equipped to weather a prolonged storm, owing to backlogs that amount to some three years of boom-time revenues.'
(Reporting by Martinne Geller, editing by Maureen Bavdek) Keywords: OILDRILLERS/SHARES (Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.