Offshore Drilling Stocks Popped: What You Need to Know

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.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1549903, ~/Articles/ArticleHandler.aspx, 10/21/2014 1:11:57 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement