As title says, I bough my first part of VAL warrants around $11:

https://finance.yahoo.com/quote/VAL-WT?p=VAL-WT

I have no clue how much longer oil can go lower. But I have time, these warrants expire April 2028! My plan is to add if VAL and warrants drop more. I will be adding next year or so, at every deeper decline. I have few more stink bids in place.

Comparing VAL to TDW, RIG, and other offshore plays, VAL is short/mid term in disadvantage, because VAL has many contracts locked in at lower prices than competition. So next year or two, VAL may be behind the others in performance. And cheaper. But I’m betting, that whole sector will be much higher year or two down the road with higher daily rates.

I am also looking at RIG $10 Calls, 2025, 2026 and getting ready to buy some soon. I’m of course hopping to get them cheaper:

https://finance.yahoo.com/quote/RIG250117C00010000/chart

https://finance.yahoo.com/quote/RIG260116C00010000/chart

Can they bring oil lower, bellow 80, bellow 70… I have no clue. I will be buying though.

Edit:

Here I would also like to mentioned something to that poster, (sorry I forgot your nickname) when I first posted about off shore plays and that member was few weeks later very enthusiastic, since positions were higher. That scared me a bit, I don’t want to influence some buying (just buying because I posted something – I’m not an expert and someone to follow). To that member:

At that time, there was quite a lot of chatter about off shore plays. I suggest, after you read about something, and if you agree with premise, after you do some of your own reading and researching, then put those plays on the watch list and patiently wait for the corrections. All industries and all sectors and all markets will correct. Be patient and try to enter at corrections.

Is here best entry point? I have no clue (well most likely not), but if industry is long term bullish, time will bail me out, even if everything corrects here for another 50% or more. And it just may, if all markets start crashing. Who knows, I’m clueless. Always have enough cash on hand, that you can buy and add if things get really hairy.