After the Macondo blowout (also known as the Deepwater Horizon oil spill), offshore drilling was severely set back in the Gulf of Mexico, with the number of rigs operating in the area plummeting. But it looks as though the industry is finally rebounding in the area, and in a big way. In this video, Motley Fool energy analyst Taylor Muckerman tells us which companies to watch in the region, as the number of rigs operating in the Gulf of Mexico ramps back up.
Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Transocean. Motley Fool newsletter services recommend Chevron. 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.
More from The Motley Fool
3 Top Oil Stocks to Buy in December
Oil prices are up, but oil stocks aren't. That's why investors should take a look at Diamondback Energy, ExxonMobil, and Transocean.
Transocean Takes Another Big Writedown to Make Way for Its Acquisition
For the second quarter in a row, Transocean elected to take a huge hit to its income statement to prepare for the next phase of the offshore drilling market.
Why Transocean Should Be on Your Watch List
If you’re at all bullish on recovery in the offshore oil industry, Transocean should be at the top of your watch list.