Offshore rig utilization continues to increase, with more than 82% of offshore vessels worldwide being employed. By the looks of it, the bonanza is just beginning, with more than 230 projects taking place and more reserves being located throughout the world. In this edition, Joel looks at the offshore landscape and discusses some new oil-field discoveries as well as a few recent deals.
The growing demand in offshore drilling signifies that the marginal cost of oil is increasing, meaning if demand does not decline, prices are going to rise. A number of energy companies are set to soar if crude prices increase as the price differential will go directly to their bottom lines. If you're on the lookout for some of these intriguing energy plays, check out The Motley Fool's 3 Stocks for $100 Oil. You can get free access to this special report by clicking here.
Austin Smith has no positions in the stocks mentioned above. Joel South has no positions in the stocks mentioned above. The Motley Fool owns shares of National Oilwell Varco and Seadrill, Ltd. Motley Fool newsletter services recommend National Oilwell Varco and 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.