VAL - It's Time to Buy This Money-Burning Oil Subsector That's Turning Cash Cow
2023-04-23 06:05:00 ET
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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It's Time to Buy This Money-Burning Oil Subsector That's Turning Cash Cow