NEW YORK ( Trefis) -- East Africa's growing importance in deepwater exploration and production could receive a further boost with oil exploration firms set to drill Kenya's first deepwater oil well in August.
Deepwater activity in the region has grown over the past few years with the discovery of massive gas fields in the Offshore area 1 of Mozambique.
However, with companies set to strike oil in offshore Kenya, exploration could pick up further as companies discover oil prospects.
This could result in a major upside for Transocean (RIG), the world's largest offshore drilling company.We have a
Click here to find out how a company's products has an impact on its stock price at Trefis. Like our charts? Embed them in your own posts using the TrefisWordpress Plugin.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV