The following video is from Thursday's Digging for Value, in which host Alison Southwick and Motley Fool energy analysts, Taylor Muckerman and Joel South, get to the heart of the biggest stories in energy investing today.
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In a day when the market remained relatively flat, Transocean (NYSE:RIG) was down around 3%. It is tough to discern why investors were selling the company after reading over a pretty standard fleet update. The fact that the company sold two standard jack-up rigs should come as no surprise due to industry trends. Peers like Seadrill (NYSE:SDRL) and Ensco (NYSE:ESV) have been doing the same this year as well. Tune in below for more.
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Joel South has no position in any stocks mentioned. Taylor Muckerman owns shares of Halliburton and Ensco. The Motley Fool recommends Halliburton and Seadrill. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. 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.