If you are looking for some value stocks in the market, then the offshore rig market is the place to be. Just about every company in the space trades at a significant discount for the S&P 500, and no company is cheaper than Hercules Offshore. However, there is a big difference between cheap and getting a good value. Based on Hercules' recent earnings and its fleet, it may be that this company is the former instead of the latter. 

Hercules' has fallen victim -- like the rest of the offshore market -- to down times, but there is a clear difference between how it and others in the space such as Transocean and Rowan Companies are dealing with it. Find out the differences and why Hercules Offshore is cheaper than a value by tuning into the video below.