Oil Lifts Offshore Drillers, Warts and All

Offshore drillers like Seadrill ( SDRL ), Transocean ( RIG ), and Diamond Offshore Drilling ( DO ) are flying today as rising oil prices alleviate concerns about an "extremely challenged" market that continues to be apparent in earnings releases from Atwood Oceanics ( ATW ), which r eported on February 2 , and Noble ( NE ), which reported last night. Evercore ISI's James West discusses Noble's financial update :