The biggest risk facing the offshore drilling industry is a potential oversupply of rigs currently being built. Seadrill (NYSE: SDRL) alone has 27 rigs under construction, which could either drive earnings growth or result in dropping dayrates. Contributor Travis Hoium thinks industry trends are still heading in the right direction and Seadrill is still the top stock in offshore drilling.
Now that oil is over $100 investors should be looking for opportunities to profit from oil prices. To help investors get rich off of rising oil prices, our top analysts prepared a free report that reveals three stocks that are bound to soar as oil prices climb higher. To discover the identities of these stocks instantly, access your free report by clicking here now.