Transocean Far From Sunk

There is no need to minimize just how serious the Deepwater Horizon oil spill in the Gulf of Mexico could ultimately be. Workers died in the accident, billions of dollars in damage are likely, a valuable rig is now scrap metal, and opponents of offshore drilling will make hay from this accident for years to come. 

All of that being said, the decline in market value of offshore driller Transocean (NYSE: RIG) seems to be exaggerating the ultimate impact to the company and its future prospects. With earnings out last week and a growing sense of the worst-case scenarios, the nervous hands may be all but gone from this story.  

http://stocks.investopedia.com/stock-analysis/2010/Transocean-Far-From-Sunk-RIG-BP-CAM-SII-PBR-FTI-CGV-HAL-APA-XOM0511.aspx