Anyone following UTI Energy Corp.? Message Board

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Gold/Mining/Energy : Anyone following UTI Energy Corp.?

UTI 27.48

-1.8%

3:59 PM EST

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To: Ronald J. Clark who wrote (1284)	6/11/1999 2:34:00 AM
From: S. maltophilia	Read Replies (2) of 1305

<<Per UTI's annual report which I just received and reviewed, UTI's rigs are 85% utilized >> I wish I could say that I read this the same way. On page 3 of the hardcopy report in the 10K section it looks to me like they are saying they had 38 active and 52 idle rigs out of a total of 104 (14 stacked) as of March, 1999. The 1998 average utilization was 55%, so it seems like it will take a while before they can get more rigs working.

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