With offshore oil exploration becoming a bigger and bigger part of the overall picture, rig companies are looking more and more like great investment opportunities. However, because of the increasing demand for equipment that can drill further offshore and in harsher environments, some of the tried and true rig owners may find lots of their legacy assets sitting in the docks and making no money, while those with the younger fleets may be ready to take the crown.
So what companies are surging ahead? Tune in to the following video, where fool.com contributor Tyler Crowe looks at why we're about to see a major shift in the way we think about rig companies and which ones are in the best position to succeed.
The driver of offshore oil?
These complex offshore projects are economical for one reason: the price of oil. With oil prices hovering around $100 a barrel, there are certain parts of the industry that are poised to do better than others. To help you better understand the dynamics of the oil market and which companies will succeed in our current price environment, our top analysts prepared a special report called "3 Stocks for $100 Oil." Simply click here and we'll give you free access to this valuable report.