There aren't enough ultra deep water ships to explore all the juicy target areas......and this is the "Oil Rush" given the Brazilian find and the Tiber......all you have to do is find one field and you are instantly wealthy....and because oil demand will triple in the next decade no exploration cost is too high....

Moreover, RIG is top player with unique skills and has already collaborated with the big oil services companies.

Plus there's the harsh environment play, who else is doing that...and the Arctic is prime territory. That alone makes this a buy.

Increasingly, RIG will make money managing other company and country drilling operations....because this business requires experienced pros......and their operations are increasingly profitable.