It simply will not stop...madness I say, madness!

Missed this one yesterday

Pacific Drilling Ltd. is considering an initial public offering this year to raise money to expand its fleet of deepwater vessels as rising oil prices boost demand for the world’s most expensive rigs.

Pacific is interested in [B][I][U]increasing its own fleet to about 10 ultra-deepwater rigs.[/U][/I][/B]

Strange how throughout all the frenzy to order more and more newbuild drillships, that Transocean has maintained a very modest orderbook. What do they know that the other companies don’t…are they just figuring that they’ll buy someone elses iron when the time is right? Wouldn’t be the first time.