Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Hercules Offshore (Nasdaq: HERO) shares jumped 10% in intraday trading on news that the Obama administration will lift the deepwater drilling ban.

So what: This is welcome news for drillers waiting for clarification on the ban. The news comes a month earlier than expected and has given drilling sector shares a boost.

Now what: Permitting may still take some time, but this is no doubt positive news for drilling companies. With the fog of regulation becoming clearer, it may be time to jump back into the drilling space. With Hercules down 50% in the past year, this could be just the news the company needs to get its stock back on track.

Interested in more info on Hercules Offshore? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium does not have a position in any company mentioned. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Fool has a disclosure policy.