Slowly but surely offshore drill rig owners appear to be getting back on their feet. They've had more than a year to adjust to life after the Macondo oil spill and subsequent stronger regulation. With uncertainty easing and oil prices rising, it looks like financials for oil drillers are also stabilizing.
This morning, Seadrill
Even after a $330 million loss on derivative financial instruments, the company posted a $58 million net income.
Seadrill appeared less affected by new regulations than Transocean
One eye on oil
Maybe the best thing that can happen to oil drillers long term is a continually rising price of oil. Today, oil topped $100 per barrel, and if the economy can boost growth even slightly that price could continue to rise.
The best stock in drilling
Seadrill's focus on deepwater has it positioned better than other drillers to create value for shareholders long term. The company also pays a dividend exceeding 9%, almost unheard of for a business that's growing profitably.
I would like to say that a pure play on deepwater like Ocean Rig
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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