Offshore Drillers: Another One Bites the Dust
May 27, 2016 at 11:32 AM EDT
As good as things have been for energy stocks this year, offshore drillers like Ensco ( ESV ), Noble ( NE ), and Transocean ( RIG ) have dropped by at least 20% in 2016--and today's announcement that Hercules Offshore ( HERO ) had filed for bankruptcy again serves as a reminder that the sector isn't out of the woods just yet, even if the major players will likely avoid Hercules's fate.
