Dicker and Link: Noble and Total Bet Big on Deep-Water Drilling Opportunities
Dan Dicker, Senior Energy Contributor for TheStreet, sits down to talk to Stephanie Link, Co-Portfolio Director of Action Alerts PLUS, about two seemingly unrelated news items.
Two seemingly unrelated events in the oil drilling arena may serve to tell investors about where the price of oil is heading. Noble energy (NBL) has paid an undisclosed amount for half of 17 BP leases in the Gulf of Mexico, while Total (TOT) has contracted Ensco (ESV) for a record $650,000 a day deepwater drilling rig for the waters off Angola. Both are making two very clear statements to Senior Energy Contributor Dan Dicker and TheStreet's Action Alerts PLUC co-portfolio manager Link about the opportunities in oil and the likely price trajectory.
