Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Big Dog who wrote (51263)	9/16/1999 11:18:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

I yield to the dog... Big; I understand what you are saying... when I refer to the subsector as being weak; My point is that there is nothing on the horizon comparable to the huge, Offshore Boom that these Drillers & Oil companies just completed. Do you feel there is anything out there to replace the likes of the construction programs that FLC, PDE, Petrobras, MRL, NE et al just did over the last few years ? Sure, there will be a Major Project here and there - the fleet is aging; but FGI benefited by a huge, huge Industry wide Construction Program. The aspect that this was an "industry-wide" Boom and that I do not see that sentiment here presently; is my entire point. I am not saying FGI is in any danger of going under etc. But, only that FGI will be a much smaller revenue company - with a much smaller base of work - for a couple of years potentially... unless; and this is the one caveat; they are a very aggressive and savy acquirer. HLX is a good move for both integration and diversification. If they merged, or do a JV later with say someone like BWG - and diversified into FPSO's and more International work - yes, that would be positive; or if they diversified into the area's of GIFI, UFAB - or even bought these types of companies... I just do not see a core of Offshore Rig Construction available - that is anything near what was seen in 1997 industrywide... What Drillers, or Oil Companies have any type of Offshore Rig Construction development projects "percolating" anything like what we saw in 1997 ? I'm keeping an open mind...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next