The merger of Ensco and Rowan makes sense, but the rally in their shares so far this year is premature because there is no sign of improving rates for their rigs this year or next, despite higher crude prices.
WSJ.com: Heard on the Street, Wall Street Journal: Markets: Heard on the Street
Mon, 10/08/2018 - 11:18am
The merger of Ensco and Rowan makes sense, but the rally in their shares so far this year is premature because there is no sign of improving rates for their rigs this year or next, despite higher crude prices.