In the video below, Motley Fool energy analysts Taylor Muckerman and Joel South discuss one of the top stocks in the energy industry, Transocean (NYSE:RIG). Transocean is currently focusing on improving its financial flexibility and providing investors with a strong balance sheet.

Transocean is trying to maintain its investment grade credit rating. It suspended its dividend in early June 2012 to concentrate cash flows and apply that to the balance sheet. Transocean is currently targeting a total of $5 billion-$6 billion with an adjusted long-term debt of $7 billion-$9 billion. The company is also going to try to improve its asset base. In order to maintain its edge over some of its peers, Transocean is trying to sell off low-spec rigs. RIG is providing thorough inspection for the equipment it uses, and it is also standardizing maintenance.

Joel South owns shares of Halliburton Company. Taylor Muckerman owns shares of Ensco. The Motley Fool owns shares of Halliburton Company, Transocean, and Seadrill. Motley Fool newsletter services recommend Halliburton Company 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.