International Investing

There quotes are from a Bloomberg article about the global shortage of oil rigs:

it were up to Thornburg, there’d be a dozen more $1- million-a-day rigs plying the Gulf of Mexico…global shortage of deep-sea drilling rigs is costing Chevron precious time as it taps the Gulf, and the equipment deficit may keep oil prices high…Day rates have climbed aggressively because demand for these rigs far outweighs the ready supply…But we have to bear in mind there’s no chance we’ll see any of that oil on-stream this side of 2010

There is a long term demand for oil rigs, prices are going up, and supply is slow to come to the market. A stock to look at in the sector is Diamond Offshore. DO is a deep sea contract driller is booking rigs up to six years into the future! This stock could have a dividend yield between $3 and $5 and is trading with a .57 PEG even with triple digit growth.