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: Winkman777 who wrote (54108)	11/5/1999 6:57:00 PM
From: Crimson Ghost	Read Replies (2) of 95453

If this post copied from the LabPuppy oil service board is correct, OSX will not be testing 90 again anytime soon. Year 2000 capex projections being slashed. Conventional wisdom was a month ago that majors would boost 2000 cap ex by 15% but with refining, marketing and chemicals all getting beat up and accounting for about half of the capital budget contribution, it now looks like spending will be up only 6%-8% (basically the increase in international expenditures). Not only is that a concern but it appears that the spending will be more back-end weighted than usual as majors wait out the first quarter to see what OPEC does.

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