This segment is from Tuesday's edition of 'Digging for Value', in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
A strong third quarter has been something that most offshore drillers have shared in common this year. For this reason, Motley Fool analyst, Taylor Muckerman, was not surprised by Transocean's (NYSE:RIG) near-7% jump in Thursday's trading. The company turned a year-ago loss into strong earnings and announced the order of five additional high specification jackup rigs due beginning in 2016, which helped boost Hercules Offshore (UNKNOWN:HERO.DL). With Ensco (NYSE:ESV) having a great day earlier this week after announcing a big dividend boost, the industry is running like a well oiled rig. For more, tune in below.
This offshore supplier has OPEC worried. Find out why here:
Joel South has no position in any stocks mentioned. Taylor Muckerman owns shares of Ensco. The Motley Fool owns shares of 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.