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: isopatch who wrote (80475)	11/30/2000 10:39:50 PM
From: jim_p	Read Replies (3) of 95453

Merrill on OSX's slide --3:39 pm - By Tomi Kilgore The Phlx Oil Service Index ($OSX: news, msgs) is spewing out losses of 6.6 percent. Since the end of last week, that index has now lost 15 percent. Merrill Lynch analyst Kevin Simpson said the recent declines reflect "increasing concerns about economic weakness and a potential increase in inventories" that could knock down oil prices. He added that the "potential for a significant speculative offshore rig building program by Santa Fe International (SDC: news, msgs) could be spooking investors. Fellow Merrill Lynch analyst Steven Pfeifer added that there were concerns over "the possibility of a large, unreported inventory build in China." Among the OSX's most active components, Schlumberger (SLB: news, msgs) is sliding $3.56 to $62.50, Transocean Sedco Forex (RIG: news, msgs) is shedding $2.75 to $40 and Noble Drilling (NE: news, msgs) is dropping $3.88 to $28.56. Sante Fe Int'l is giving up $2.44 to $24.50. Jim

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