Chevron’s CEO Just Warned of Physical Oil Shortages.
This $6 Offshore Driller Is Up 171% and Still Trades Below Book Value Quick Read – Transocean (RIG), the world’s largest pure-play offshore contract driller, posted Q4 2025 contract drilling revenue of $1.043B up 9.6% year-over-year, fleet utilization of 85.8%, and full-year revenue growth of 13% to $3.965B with backlog at $6.1B
The stock trades at 0.94x book value and 4x forward P/E after climbing 51.33% year-to-date. – Chevron CEO Mike Wirth warned that physical oil shortages are emerging as Middle Eastern crude output goes offline due to Strait of Hormuz disruptions, making offshore drilling capacity a scarce commodity and supporting higher dayrates for contract drillers like Transocean. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Transocean wasn’t one of them. Get them here FREE. Chevron CEO Mike Wirth turned heads at the Milken Institute on May 4, telling the room that “we will start to see physical shortages” as commercial inventories, shadow-fleet tankers, and strategic reserves get drained at the same time.
With more than 13 million barrels daily of Middle Eastern crude output knocked offline by the Strait of Hormuz closure and Brent crude settling at $113.76 on May 4, the energy backdrop has flipped from price shock to outright availability concerns. For retail investors scanning headlines, that tightening backdrop puts a fresh spotlight on small-priced energy names that still have room to run. With that in mind, here is one offshore drilling stock trading under $30 that is positioned to benefit as the world scrambles for every available barrel.