August was another tough month for offshore drilling stocks. Shares of ENSCO PLC (NYSE: ESV), Atwood Oceanics, Inc. (NYSE: ATW), and Noble Corporation Ordinary Shares (UK) (NYSE: NE) all fell sharply during the month, finishing August down 19%, 16%, and 18% respectively.
In general, a lack of good news was responsible for the decline in shares of these three companies in August, including the release of quarterly earnings in late July and early August.
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