All Theses, Dissertations, and Capstone Projects

Year of Award



Master of Business Administration (MBA)


College of Business & Professional Studies

Degree Program



Business Administration


Investment, Rowan Companies Inc., Zapata Coporation, Off-shore drilling, Oil well, Petroleum


To invest successfully, three crucial factors must be addressed: economic conditions, industry conditions and the individual corporate situation. Economic conditions will impact the level of profitability of any investment decision. Furthermore, the strength of the economy can have dramatically different effects on different sectors of the economy. Thus, a firm knowledge of the industry of interest is essential. Finally, the investor must understand the specific situation of the particular firm of interest within both the industry and the economy. Overall, this analysis will be directed at the stocks of Rowan Companies, Inc., and Zapata Corporation. These two firms are in the oil field services industry. More specifically, both firms are primarily in the off-shore oil well drilling sector of that industry.

Generally speaking, the petroleum industry functions in the four following subindustries: 1) exploration and production, 2) transportation, 3) refining and processing, and 4) distributing and marketing finished products. The larger firms in the petroleum industry are both multinational and vertically integrated, yet, a large number of smaller firms are active in only one or two of the subindustries. This analysis will focus on the oil field service industry (a sector of the exploration and production sub-industry) and specifically on the off-shore drilling portion of that industry.

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