When natural gas prices plummeted, many of the shallow water offshore drilling rigs in the Gulf of Mexico moved to oil heavy plays internationally to recoup profits. There are currently 35 rigs in the region, with 18 of them belonging to Hercules Offshore (UNKNOWN:HERO.DL). With E&P companies finding liquids content in the shallow water of the gulf coast, market fundamentals are at all-time highs. In this video, Motley Fool energy analyst Joel South tells investors how long this incredible skyward trend for Hercules can continue, and what risks might hamper the firm going forward.