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Offshore Drilling Stocks Still Facing Challenges

TheMotleyFool

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Offshore Drilling Stocks Still Facing Challenges: https://g.foolcdn.com/editorial/images/730614/offshore-drilling-rig.jpg

Transocean (NYSE: RIG) is one of the few offshore drilling stocks still standing after a decade of struggles. But the recovery hasn't led to strong profits, and improved efficiency and a cutback in spending could be headwinds for the industry. In the video below, Travis Hoium highlights why Transocean's results are troubling.

*Stock prices used were end-of-day prices of May 1, 2023. The video was published on May 2, 2023.

Source Fool.com

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