The energy sector is expected to see a 12% decrease in growth over the second quarter, according to S&P Capital IQ, but Noble Corp. bucked the trend while growing its year-over-year earnings by 250%. Offshore drilling companies have been one of the bright spots in an overall gloomy sector with dayrates increasing and rig utilization numbers growing. The trend can also be seen in other offshore companies, with Transocean turning in a strong Q2 and Diamond Offshore declaring a special cash dividend.
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Joel South has no positions in the stocks mentioned above. The Motley Fool owns shares of Transocean and Seadrill, Ltd. Motley Fool newsletter services recommend Seadrill, Ltd.. 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.