A recent oil discovery in the Gulf of Mexico highlights the growing amount of oil found in ultra-deepwater. This is a huge advantage for companies who own the rigs doing the drilling because they're able to charge as much as $600,000 per day for their services. Erin Miller sat down with Motley Fool contributor Travis Hoium to talk about how drilling trends are changing and who could benefit from this increased activity in the ultra-deepwater.
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Ultra-Deepwater Drilling Continues to Expand
A new discovery in the Gulf of Mexico reinforces bullishness for drilling rig owners.
About the Author
Travis Hoium is a contributing Motley Fool Stock Market Analyst covering solar energy, technology, and growth stocks. Prior to The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a B.S. in Mechanical Engineering from The University of Minnesota and a M.B.A. from The Carlson School of Management at the University of Minnesota. When he’s not thinking about stocks, he spends time with his wife and three kids, and periodically competes in half-Ironman races.
Erin Miller does not own shares in any company mentioned above. Motley Fool contributor Travis Hoium manages an account that owns shares of Seadrill. The Motley Fool recommends Seadrill. The Motley Fool owns shares of Seadrill and Transocean. 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.
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