Offshore Drilling Is Booming Again

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The ultra-deepwater drilling market has fully recovered from the Deepwater Horizon disaster and even the owner of that rig -- Transocean -- is seeing improved results. As growing reserves are found in deepwater, Transocean, Noble , Seadrill , and Ensco have been able to command $600,000 per day for rigs and keep them employed for months or even years at a time. With oil becoming harder to find onshore, energy contributor Travis Hoium thinks the profits these companies are reporting can continue to grow.

To make conditions even better, oil is now well over $100 per barrel and an improving global economy will keep it elevated. To help investors get rich off of rising oil prices, our top analysts prepared a free report that reveals three stocks that are bound to soar as oil prices climb higher. To discover the identities of these stocks instantly, access your free report by clicking here now.

The article Offshore Drilling Is Booming Again originally appeared on

Fool contributor Travis Hoium manages an account that owns shares of Seadrill. The Motley Fool recommends Seadrill. The Motley Fool owns shares of RIG and Seadrill. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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