Based on the amount of money that exploration and production companies are spending on offshore drilling, it would seem almost impossible for a rig company to do poorly. But with one of the best ultra deepwater fleets out there and a rig standardization program that keeps time at the dock at a minimum, Ensco (NYSE:ESV) is proving to be one of the best in the industry, and, coincidentally, one of our favorite stocks. 

Tune into the video below and find out why Ensco is positioned better than some of the more tried and true players in the space, such as Diamond Offshore (NYSE:DO) and Transocean (NYSE:RIG), and why investors should take a good hard look at this company as the offshore market gets even bigger over the next few years. 

Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them on Twitter @TMFDuffy and @TylerCroweFool, respectively. 

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