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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Douglas V. Fant who wrote (54249)11/9/1999 2:43:00 AM
From: Mudlogger  Read Replies (1) of 95453
 
NBR stacked rigs rather than cut rates

Roughneck was just telling me that earlier this year Nabors stacked 11 rigs in East Texas rather than renegotiate with BP for lower day rates. Business seems to be picking up now though. I hope service companies don't give in to long term contracts with low day rates. I suspect we're in for another slow quarter before things really start to pick up.
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