Why Transocean Rocketed Higher in the First Half of 2021
Shares of Transocean (NYSE: RIG) nearly doubled over the first six months of 2021, rising 95.7%, according to data from S&P Global Market Intelligence, as market conditions and interest in ultra-deepwater projects continue to improve as the global economy emerges from the pandemic.
The offshore drilling rig supplier recently had to delay delivery of two next-generation drillships because the energy industry's recovery is not linear. But climbing oil prices create a market conducive to Transocean's business.
Source Fool.com