They simply drill for oil and are paid up to—hold on to your hat—as much as $200,000 a day. These day-rates can only go higher as the demand for drilling rigs continues to outstrip supply.

In fact, from Australia to Europe, from North America to South America, the rig industry is already at 100% capacity. In the remaining regions around the world, capacity is at 93%.

As reported recently in Business Week, "Demand for drilling rigs has led to record-setting day-rates and they're still on the rise."

They will continue to rise for the foreseeable future as it takes years and millions of dollars to build new rigs.

That's why I suggest you back up the truck and buy as many shares as you can in a company that is already making money hand over fist as oil prices continue to rise and the demand for oil drillers explodes.

If you read Blue Chip Growth regularly, you'll already be familiar with my top drilling stock, Transocean (RIG). After all, I've been writing about the boom in drilling stocks for over two years now. Those who have invested along with me have banked 38% profits.

As you're about to discover, Transocean profits pale in comparison to what lies ahead, for three simple reasons:

• Transocean is by far the world's largest offshore oil drilling contractor, with a fleet of 82 mobile offshore drilling platforms.
• As a result, as oil prices and day-rates rise, the company will bank the biggest profits, not only because it has the largest fleet but because it has the most modern fleet of drilling ships, able to drill for oil in the harshest and deepest of conditions.
• What's more, the company increased its rigs by six and is already locked up under new contracts bringing the company to 91% of capacity.

Second, the company is near to sealing the deal on a mammoth merger with another drilling giant, Global Santa Fe (GSF), which will solidify the company as the global leader of offshore drilling.

The combined company will not only have the largest fleet in the world, with a mammoth 146-unit fleet, but also the most technologically advanced fleet in the world.

In addition, the company, with a combined revenue backlog of $33 billion, has the financial flexibility to not only invest for future growth but also to devote two years of free cash flow to reducing debt.

Last, if the past quarter's earnings are any indication of what lies ahead, this is one company that could by itself double your money in the next 12 months.

In fact, the company's first-quarter revenue jumped more than 75%.

What's more, the company's earnings were just as impressive up 70% to $3 billion.

When you consider that oil prices have jumped from $80 in August to $110 in March, you can see the profits Transocean will make when first-quarter earnings are released in a world of over $100-per-barrel oil.

It's easy to see how rising oil prices could go down in history as one of the most profitable trends of 2008. As the editor of Blue Chip Growth Letter, it's my job to connect the dots to the stocks that are most likely to profit. As you've seen so far, by simply embracing this opportunity now, you could easily double, triple, or even quadruple your wealth in the years ahead!

For over 20 years, Louis Navellier has helped investors grow rich from identifying the world-changing trends, handpicking the stocks, and holding on for the ride! As a result, Blue Chip Growth has rolled up 5,387% in cumulative returns since 1985! See how Blue Chip Growth could make you 50% richer, or more, in the next six months! Accept your risk-free trial subscription by clicking here now!

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