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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (47130)6/30/1999 4:18:00 PM
From: still learning  Read Replies (1) of 95453
 
Slider, we now enter a game of chicken WRT capex. Do the E&Ps try to up capex now while dayrates are low, or wait to see $18+ oil for a few months? They've seen enough up and down action lately to have plenty of justification for not upping capex yet. But if they wait too long, they'll find themselves missing the bargain basement rig prices. IMHO, they start contract negotiations in earnest this summer, even if it's for project 6-9 months out.

What are your thoughts/comments?
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