There are many stocks which have performed strongly this year so far and one of those is the Transocean Ltd (NYSE:RIG) stock. The stock has clocked gains of as much as 37% this year so far and it might be a good idea for investors to take a look at some of the recent events in relation to the company.
Back on August 26 this year, the company made a major announcement with regards to a new contract. Transocean announced that it got a firm contract worth as much as $252 million from the company BOE Exploration & Production LLC.
According to the terms of the contract, the company is going to work on BOE Exploration’s ultra deep water drill ship named Deepwater Atlas. In addition to the total value of the contract, Transocean was also paid a mobilisation fee of as much as $30 million.
However that is not all. The contract also has provisions for considerable performance bonuses for Transocean and that is another factor that investors need to keep in mind when evaluating this particular contract. At this point in time, it might be a good idea to keep an eye on the Transocean stock.
Learn what other oil and gas investors have discovered in the energy field: Allied Energy Corp. (OTCMKTS:AGYP). AGYP is a gem because it is pumping oil domestically (Texas specifically) and providing needed product as major suppliers are failing demand in the oil and gas markets. AGYP differentiates itself because not only is it a domestic oil provider, but the liberals may even be able to get behind an oil and gas exploration company that reworks proven wells. They are essentially as “green” as an oil & gas explorer can be. By reworking the wells they are reducing the carbon footprint of an average oil exploration project. They are also harming less ‘virgin’ land, by getting the most out of what is already there. Finally, this exploration technique takes a lot of the costly guesswork out of exploration, as generally the company will know there’s oil, the question will only be how much? In AGYP’s case there appears to be quite a bit at their Green lease, soon we will learn just how much exactly.
