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 (53478)	10/24/1999 10:14:00 PM
From: Richard D	Read Replies (2) of 95453

Douglas, PTEN's earnings, also, are supposedly out at the end of the week. It should prove interesting. PTEN rig counts are nearly double those at the end of the last quarter. Plus if you saw the Baker-Hughes rig counts as of Friday, you know land rigs were up 29 in one week. This may prove a profitable couple of weeks for PTEN stockholders, assuming oil behaves. Fair notice to those on the sidelines... Regards, Richard PS it may not matter what oil does, considering gas rigs were up 30! That's the ace in the hole for PTEN. I, personally, have converted to approximately 400,000+ BTU's of natural gas, from oil and electric this year, so I'm doing my part for PTEN <g>! You're right about natural gas spiking. I think it may go on for a couple of years until drilling catches up with new demand and old depletion.

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