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

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To: SliderOnTheBlack who wrote (63974)4/6/2000 12:39:00 PM
From: Big Dog  Read Replies (1) of 95453
 
From Lehman:

Global Marine has signed a two-month contract for the High Island VIII at $30,000
per day with OceanEnergy. The rig is a 250-foot water depth rated LeTourneau 82-
SDC. This day rate represents a significant step up from the $25,000-$26,000/day
that 250-foot cantilevered jackups had been working for. We expect other similar
jackups to more up to this level in the next month or two, benefiting such companies
as Global Marine, ENSCO, and Noble Drilling.
Bid requests in the Gulf of Mexico are reported to have improved substantially in
March from January/February levels.
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