July 21, 2012
Ongoing troubles in the eurozone, slowing growth in China, and a struggling economy in the U.S. have led to a 20% drop in oil prices over the past three months. The stock prices of many energy companies have come down even more, creating bargains in some well-managed names that should see their stocks rebound sharply on even a modest recovery in oil prices.
In today's video, Matt and Paul discuss one offshore drilling contractor that looks particularly compelling right now. With cheap sources of oil becoming harder and harder to find, corporations and governments are looking increasingly offshore for their energy needs. Today's company is growing its rig fleet by 60% over the next two years to prosper on that trend.
Looking for more energy-related ideas? Check out The Motley Fool's "3 Stocks for $100 Oil." You can get free access to this special report by clicking here.