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: excardog who wrote (80432)	11/30/2000 6:34:34 PM
From: Nello Filippone	Read Replies (1) of 95453

Scott, Don't feel alone I also did some Christmas shopping today, HAL,ATW,OEI,SLB,RIG. Some reasons why I don't think the OSX has further to go: - There are no rigs available, if you want one you are going to pay through the nose. - Many rigs are coming up on contracts that were executed at 1998-1999 firesale dayrates. - Very little personal available for up-stream jobs, maybe the oil industry will get an influx of ex-.com employees working on some platforms. - We are on the verge of an energy crisis, even with an injection of 19.5Mb(as of 11/24) from the SPR there has been NO significant increase in crude or products. Dept of Energy numbers: *************10/24/00**** 11/24/00 SPR ******* 573.5Mb**** 554Mb - 19.5 Mb Crude ***** 285.6 ***** 290.1 4.5 Gasoline ** 192.2 ***** 191.2 -1.0 Heating Oil * 46.0 ******** 48.9 2.9 ************************************ DIFF 6.4 A 6.4Mb increase in crude/product with an injection of 19.5Mb from the SPR, I would love to know what experts CNBC's Bob Pisani is speaking to who see a build in inventory !!! -For Natural Gas (Courtesy of Ronald J. Clark) this debacle can be seen weekly Message 14913672 Nello

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