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: stevedhu who wrote (53733)	10/29/1999 1:33:00 PM
From: upanddown	Read Replies (1) of 95453

Steve You and Sarge are not just imagining increased rig activity in Texas. BHI has the Texas rig count up 17 this week alone, 276 to 293. Probably the hottest sub-sector in the world. Another solid week for rig counts..... US 761 +11 -----now well ahead of 1998's 708 CAN 301 +9 LAND 634 +12 OFF 109 -1 GOM 107 -1 OIL 136 -3 GAS 623 +14 The flat activity in the GOM is a bit of a puzzle plus the gas vs oil ratio. Oil is down 57 from a year ago while gas is up 108. My guess is that the big guys go off shore and after oil and they are not spending YET while the smaller E&P's mostly going after gas are flush with cash and really getting active. John

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