Drilling Companies - Very Low Valuations

In addition to the last article on Geodrill, below I have plotted two charts showing the current valuations of a few drilling companies:

According to the chart above, using a multiple EV / EBITDA as a valuation measure, Geodrill and Swick were two strongly undervalued drilling companies.

On the other hand, using another metric, price to book value (P / BV), it looks like nearly all drillers are valued below their book values:

The only exception is Major Drilling, one of the biggest world drilling companies.