One Energy Player Looks Oversold After All The Oil Spill Hype

transocean rig workers

Photo: Transocean

As long as no one knows who’s to blame for the Gulf Oil Spill, half-a-dozen stocks are on a steady dip: including BP (BP), Transocean (RIG), Haliburton (HAL), Dril-Quip (DRQ), TETRA Technologies (TTI), and Cameron International (CAM).But in the past week, lots of circumstantial evidence has actually come out in favour of Transocean.

Transocean is one of the only rig operators in America who sought out an international safety certification, according to Texas school OCS Group. OCS sent us this email in their defence:

The explosion on the Horizon is so unfortunate for Transocean; Transocean is the most proactive company in the oil industry that we know. Transocean contacted us and are currently enrolled in our training on risk management and hazardous inspections legations. However there are many rigs out in the Gulf of Mexico and land area that do not train person or do any risk ligation and training, by saying this there is little enforcement by the authorities who control the legislation on monitoring and inspections to ensure reasonable hazardous area’s are managed and maintained.

Transocean also won a safety award from the Minerals Management Service for “outstanding drilling operations” and a “perfect performance period.” The company also made this awesome hip hop safety video.

But reputation only goes so far. Transocean shares are down more than Haliburton and BP.

Don’t miss: Amazing Photos Of Transocean’s Rig Blowing Up >

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