SOURCE: Paragon Financial Limited

Paragon Financial Limited

April 25, 2012 08:20 ET

Offshore Drilling Industry Benefits From Booming Oil Prices

The Paragon Report Provides Stock Research on Diamond Offshore Drilling and Noble Corporation

NEW YORK, NY--(Marketwire - Apr 25, 2012) - Nearly two years ago the offshore-drilling industry was in danger of collapse under the pressure of lawmakers and regulators pushing to ban offshore drilling in reaction to BP's oil spill and Transoceans's rig explosion. The industry persevered and now seems to be in the midst of a comeback as rising oil prices and depleted resources are forcing major oil companies to focus on exploration and development of offshore oil and gas reserves. The Paragon Report examines investing opportunities in the Oil & Gas Drilling & Exploration Industry and provides equity research on Diamond Offshore Drilling (NYSE: DO) and Noble Corporation (NYSE: NE).

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Offshore oil and gas reserves have been an increasing focus for energy companies as significant oil discoveries on land are becoming less common. With recent offshore discoveries and the large amount of underdeveloped oil and gas fields demand for mobile offshore-drilling units (MODU) are expected to increase dramatically. Major energy companies such as Royal Dutch Shell, Exxon Mobil, and Chevron have already reinvested earnings in offshore ventures. The International Energy Agency (IEA) expects global oil demand will rise from 88 million barrels today to around 99 million barrels in 25 years' time.

Paragon Report releases regular market updates on the Oil and Gas Drilling & Exploration Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Diamond Offshore provides contract drilling services to the energy industry and is a leader in deepwater drilling. Diamond Offshore's fleet includes 49 offshore rigs, consisting of 32 semisubmersibles, 13 jack-ups and four positioned drillships, three of which are under construction.

Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 79 offshore drilling units (including five ultra-deepwater rigs and six jackup drilling rigs currently under construction), located worldwide, including in the U.S. Gulf of Mexico, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India and the Asian Pacific.

Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: