Nabors Industries(NBR) Message Board

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Gold/Mining/Energy : Nabors Industries(NBR)

NBR 48.49

-1.7%

Oct 31 3:59 PM EST

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To: William Peavey who wrote (129)	1/16/1999 6:02:00 AM
From: TheSlowLane	Read Replies (1) of 174

I heard about this on the Yahoo! thread, but the couple of posts that mentioned it didn't include any more detail (like the name of the manager, for example). There seems to be a fairly broad consensus that oil services and drillers, and Nabors in particular, are at or near their bottom and that recovery among the strongest players in the group is just a matter of time. I've heard that NBR has a strong hand and can ride out these times - and will be very well positioned when oil makes a comeback. A money manager I know said that NBR has been known to make opportunistic acquisitions in the past and I think this deal with PESC was the latest example of that. I got into NBR at around 25, right before the bottom fell out, but bought more at 14.50 quite recently. Looks like it could be a year or so before we are back in good shape, but that can work well from a cap. gains perspective if I wish to exit at that time...

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