Investors lost billions on offshore oil drillers over the past decade. Things got so bad that almost all of the public companies in the subsector went through bankruptcy in 2019 and 2020, with Transocean (NYSE: RIG) being the one major survivor.
Today, the group is healthier, and oil companies have money to spend offshore. In this video, Motley Fool contributors Jason Hall and Tyler Crowe make a case for Transocean, along with Valaris (NYSE: VAL) and Noble Corp (NYSE: NE), as compelling buys or research stocks today.
*Stock prices used were from the afternoon of April 11, 2023. The video was published on April 23, 2023.
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Jason Hall has no position in any of the stocks mentioned. Tyler Crowe has positions in Noble Plc and Transocean. The Motley Fool recommends Noble Plc and Transocean and recommends the following options: long January 2025 $1 calls on Transocean. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.