Both Diamond Offshore (NYSE:DO) and Noble Corp. (NYSE:NE) put together some pretty impressive quarterly earnings reports, especially considering their recent struggles with older fleets. This is leading to a couple of questions regarding the rig market for 2014. Is this a fluke for two underperforming companies? Or is this indicative of the overall health of the market? The answer to these questions will likely become more clear when Ensco (NYSE:VAL) reports earnings coming up.

While these are some questions regarding the overall health of the market, there are some items that Ensco investors should be looking for in particular, namely if the company has been able to find homes for the rigs on which Brazilian company OGX defaulted on payment. Find out what else Ensco investors should be looking for by tuning into the video below.