Judging by comments on my previous articles in this series about Seadrill and Transocean (NYSE:RIG), I've noticed that some investors are impatient to get into drillers as valuations are low and oil prices could rally in the future, lifting the prices for offshore drillers. For such investors, Diamond Offshore offers some protection in case of the worst case scenario. Make no mistake if there is additional oil price downside, shares of all offshore drillers will be bloody red.
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