Joel: So, Taylor, there's a lot of storylines in the last year, over 2012. There's one sector that you've liked. It's a sector that you've invested in.

The oil and gas service industry has been really exciting. There's been a lot of dynamics, a lot of changes throughout the year. For a while everything was centrally based in North America, a huge, huge boom, and things are slowly changing.

Tell us about the industry in general, and what you like about it.

Taylor: Yeah. Right now you're really looking at companies moving offshore. You saw this huge boom in the United States onshore, with natural gas and the shale plays that were really emerging over the last few years, but now that that's taking a back seat to some of the deepwater plays.

What offshore locations are likely to take off? And which companies' investors are in prime position to benefit from this emerging trend? Watch the video to find out.

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