RE:Is deep water drilling entering boom times?Where have u been since 2000? We have been in a deep water drilling boom for 15 years. Day rates have gone from $100,000+ a day to over $700,000 a day in that time. Oil has been over $100/bbl for a lot of that time. The downturn is only a year old, so expect another 2-5 years yet. When blood flows in the street it will be time to get back into oil/oil service/drilling stocks! Not now, although there could be a trading bounce near, and a few more before the real bottom.