Odeville Drilling, along with Transocean and Valaris, continues to purchase those drilling rigs despite the high share price. Contracts, there is simply a demand for those excavators.
The market is getting stronger, supply is stable, and demand is rising. This means higher prices, more profits, more cash dividends, and more of everything else . Strong financial results for the company.
Dividend payouts of 10 %. Now, when I look at the stock, it is noticeably higher. So, this is a typical bet from " Babray". When there is pressure in the market, the stock can easily reach 30, and that is what "Paprai" is betting on.
However, if anything happens and those contracts fall through, that risk will always remain. This is a risk I am simply not comfortable taking.