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: Olaf Koch who started this subject	7/11/2000 8:19:32 AM
From: Meridian	Read Replies (1) of 95453

More E&P Spending Increases - BP Amoco announced they will $8.0 billion on upstream E&P next year, up from an est of $6.0-$6.5 billion. The cycle is not close to being over ... this downturn is just a bit of profit taking. The spending cycle is just beginning. The cycle will start drawing to a close when the BPA's of the world start to realize higher production from their massive capex increases. And I don't think we see that until 2002. Unless we have a big worldwide slowdown, I think we're golden. (knocking on wood of course). In the context of BHI's rig count increase last month, we're setting up for a nice rally IMO.

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