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: SliderOnTheBlack who wrote (48547)	7/29/1999 10:07:00 AM
From: Think4Yourself	Read Replies (3) of 95453

HMAR says drilling downturn not bottomed yet. biz.yahoo.com ''The downturn in the oil patch is continuing and may not reach bottom for another quarter or two,'' commented Jean Fitzgerald, Chairman, President and CEO. ''While there are encouraging signs in the domestic market, including an increase in the number of drilling rigs operating in the Gulf of Mexico, the international market continues to weaken and may well lag any domestic recovery. In the meantime, our towing and tanker operations are performing well, and we are working on a number of refinancing opportunities to address our ongoing liquidity problems.''

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