UFAB - oil drilling deck fabrication Message Board

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Gold/Mining/Energy : UFAB - oil drilling deck fabrication

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To: andrew r harwood who wrote (275)	5/27/1998 11:35:00 PM
From: andrew r harwood	Read Replies (1) of 337

just heard today that gulf rig daily rates haved dropped n the last week to 40000$ per day from 50000$ a day ,a couple of years ago they were around 25000 and then had a huge run up obviously a significant correction is going on .their is a significant downturn in drilling activity going on right now in the gulf due to price of oil and gas .also heard that day rates for service boats is being discounted 10-15% .the big deep water projects are still proceeding since they have a lead time of 2-3years or more but some other projects are being put on hold. i heard that chesapeake is dead meat ,stone still looks good .arh

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