Offshore drillers Transocean LTD (NYSE:RIG), Diamond Offshore Drilling, Inc. (NYSE:DO), Noble Corporation (NYSE:NE) and ENSCO PLC (NYSE:ESV) are all down today, as the broader market takes a hit before the weekend on weak economic data.
The reality of the ongoing recession has investors selling off, and offshore drillers aren't exactly considered a positive industry at the moment because of the consequences of the BP oil spill.
As of 2:00 PM EDT, all these offshore drillers are down from over 2 percent to over 3 percent.
Of course this could be positive for investors, who have been happy with the undervaluation of the industry, which gives them numerous buying opportunities in the sector.
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