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: