Ann: Award of Drilling Rig Contract - Ophir Oil Development, page-17

Ophir may be coming on stream at the right time .....Bloomberg today

U.S. crude is hugging $50 a barrel following Wednesday’s 9.3 percent surge, the biggest since February, and Goldman Sachs Group Inc. is projecting further gains of more than 10 percent by the end of the first half as the current oil surplus withers into a deficit.



And may have locked in rig build and drill prices at the right time.....

builders are also rallying, amid speculation higher oil prices will encourage further exploration, fueling demand for drilling equipment. Keppel Corp., the world’s biggest oil-rig manufacturer, jumped as much as 5.5 percent to S$5.75 in Singapore, the most since June. Sembcorp Marine Ltd., the second-biggest, also surged.

For them, the OPEC deal is coming at a key moment. Oil-rig makers have fired thousands of workers in the past two years and have been planning more cuts amid weak demand for equipment to explore and transport oil. Energy companies have cut more than 350,000 jobs since crude prices started to fall in 2014 and explorers reduced hundreds of billions of dollars in investment to weather the rout.

DYOR....I'm a happy holder at the mo.....