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Is Now The Best Time To Acquire Drilling Rigs?

With the steep decline in oil prices, and the surge in bankruptcies among US land-based drillers, there appears to be an opportunity to acquire assets, such as drilling rigs, at steep discounts to their original cost.

The question for an investor in these distressed assets is: When will demand for oil rigs reach a level that makes it profitable to dispose of rigs that have been acquired?