#offshore deepwater drilling - look back at the previous cycle peak/near peak (late 2013) $OIH $RIG $NE $VAL $SDRL 1/10
Rising DRs & utilization similar to the current cycle but new rig orders MIA/asset values muted. With supply side frozen (except a few stranded rigs) + utilization tightening expect asset values to start driving the equity bus. Headroom up to fair value sizeable 2/10
Floater demand 3/10 
NCS demand 4/10
Floater utilization 5/10
Deepwater asset values 6/10
Deepwater dayrates 7/10
New orders 8/10
Newbuild activity 9/10
Drillship orderbook (wtf!) Lava Jato responsible for a slug of this 10/10
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