It appears that deepwater markets in the Gulf of Mexico and the North Sea are just beginning their production ascents. Recent reports hint at record spending growth in the North Sea, and fundamentals in the Gulf of Mexico have eclipsed their pre-Macondo levels. It appears energy bulls better learn to swim because these are the new frontiers. In order to capitalize on this spending while eliminating some of the risk incurred by the exploration and production companies, the drillers that Motley Fool energy analysts Taylor Muckerman and Joel South discuss below could be great ways to invest in this potential earnings tidal wave.

Joel South has no position in any stocks mentioned. Taylor Muckerman owns shares of Ensco. The Motley Fool recommends Seadrill. The Motley Fool owns shares of Seadrill and Transocean. 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.