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Offshore Drilling Stocks Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Hercules Offshore (Nasdaq: HERO  ) and ATP Oil & Gas (Nasdaq: ATPG  ) each rallied more than 10% during intraday trading on hopes that platforms evacuated from the Gulf of Mexico would resume drilling soon.

So what: In particular, Tropical Storm Lee took some 239 production platforms offline over the Labor Day weekend. Now reports say workers are headed back to reopen roughly 100 Gulf oil and gas platforms.

Now what: Investors must be thrilled. The scars of Hurricane Katrina and other mega-storms haven't fully left the national consciousness, and a result we tend to fear the worst when clouds go dark. Lee, thankfully, never fully faded to black. Do you agree? Disagree? Please weigh in using the comments box below.

Interested in more info on Hercules Offshore and ATP Oil & Gas? Add them to your watchlist.

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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Tim Beyers
TMFMileHigh

Tim Beyers first began writing for the Fool in 2003. Today, he's an analyst for Motley Fool Rule Breakers and Motley Fool Supernova. At Fool.com, he covers disruptive ideas in technology and entertainment, though you'll most often find him writing and talking about the business of comics. Find him online at timbeyers.me or send email to tbeyers@fool.com. For more insights, follow Tim on Google+ and Twitter.

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Related Tickers

12/31/1969 7:00 PM
ATPAQ.DL $0.00 Down +0.00 +0.00%
ATP Oil & Gas Corp CAPS Rating: ***
HERO $0.12 Down -0.02 -11.11%
Hercules Offshore,… CAPS Rating: ***

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