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.
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. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.