Jump to content

VAL - Valaris


Recommended Posts

https://s23.q4cdn.com/956522167/files/doc_presentations/2021/Valaris-Investor-Presentation_May-2021.pdf

- promotional kuppy VIC writeup of recent, CHECK

- net cash balance sheet to provide some degree of runway, CHECK

- one of largest most modern drilling fleets, CHECK

- 1/10 of replacement cost, whatever that means, CHECK

- no diligence, future tax deduction, read the presentation and throw 25-200 bps in it depending on one's risk tolerance, CHECK

sorry can't be more value add, but when it will never be high conviction, there's no utility (to me) in doing any work, beyond the above. One either chooses to participate in small size, or not. not gonna check a million fleet status reports, or build a global supply/demand of rigs spreadsheet, or kid myself with anything else. the BK wiped all the debt and oil is up. this used to be a $20 billion EV company. It's now $1.5 billion (no idea as to comparability). that's the pitch. 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...