Photo credit: Seadrill 

For deepwater drillers like Seadrill (NYSE:SDRL), Transocean (NYSE:RIG), and Ensco (NYSE:ESV) it has been a rough year. The stock price of all three companies have lost value this year, though that loss has slowly been eroding away as investors begin to realize that deepwater is still in the midst of a multi-year drilling boom.

Still, investors see the current lull in the market, where just seven rig years were contracted last quarter according to Seadrill, as being powerful enough to sink this sector. However, we're not only seeing signs of life in the sector, but looking out over the longer term we see a boom that's just getting started.

To help investors understand that longer term outlook I created the slideshow below. It explores the remarkable market fundamentals of the deepwater sector, which all point toward robust conditions for deepwater contract drillers like Seadrill, Transocean, and Ensco.