Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Douglas V. Fant who wrote (47509)	7/7/1999 11:14:00 PM
From: BigBull	Read Replies (2) of 95453

Douglas, Texaco and Petrobras have signed a deal for 1.5 BILLION dollars worth of E&P in the Campos Basin. While $1.5 BILLION (spelled with a B) is not the whole world, it's still a very big pile of cash. BTW, care to hazzard a guess on whose rigs will get put to work? dailynews.yahoo.com Doesn't seem as though Texaco is waiting for y2k to get its rear in in gear. Perhaps this was already "budgeted" for, but it seems to me that that the biggies that do start to explore now, put their competitors at a distinct competitive disadvantage and almost force them to review their budgets. Whether they like or not. BTW now that the biggies are making all this upstream money, what will they do with it - increase the dividend? I don't know. It seems your company's "written in stone budget" was fairly pliable after all. Imo this bears watching.

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