Citi Names Winners For More Gulf Drilling

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Citigroup published a report today highlighting some of the companies it views as potential winners as more deepwater drilling permits are awarded for projects in the Gulf of Mexico, noting that protests by environmental groups will not delay the resumption of Gulf of drilling.

ATP Oil & Gas (ATPG), Noble Energy (NBL) and BHP Billiton (BHP), the world's largest mining company, have all been awarded permits to resume work that was started prior to the Gulf oil spill in April 2010.

On Monday, Royal Dutch Shell (RDS-A), Europe's largest oil company, won the first approvals for new deepwater projects in the Gulf. Shell will use a rig made by Noble (NE). Citi reiterated a ''buy'' rating on Noble today.

The bank also reiterated ''buy'' ratings on Diamond Offshore (DO) and Transocean (RIG), the world's largest provider of offshore drilling services.

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