The ultra-deepwater drilling market has fully recovered from the Deepwater Horizon disaster and even the owner of that rig -- Transocean (RIG +2.09%) -- is seeing improved results. As growing reserves are found in deepwater, Transocean, Noble (NE +0.00%), Seadrill (SDRL +0.00%), and Ensco (ESV +0.00%) have been able to command $600,000 per day for rigs and keep them employed for months or even years at a time. With oil becoming harder to find onshore, energy contributor Travis Hoium thinks the profits these companies are reporting can continue to grow.
Offshore Drilling Is Booming Again
By Travis Hoium – Aug 15, 2013 at 1:33PM
NYSE: RIG
Transocean
Market Cap
$4.2B
Today's Change
(2.09%) $0.08
Current Price
$3.91
Price as of October 30, 2025 at 4:00 PM ET
Improved results from oil drillers shows a strong offshore market.
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.