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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Second_Titan who wrote (81880)12/15/2000 8:27:28 PM
From: tommycanuck  Read Replies (1) of 95453
 
Everyone thought Matt Simmons was dead wrong when he was saying there was a crunch looming in the oil market when it was $10. The next leg of his philosophy will also come home to roost with his contention that the infrastructure to deliver more from the wellhead needs significant expansion to meet the demand going forward. Don't forget that decline rates on new gas wells are hovering between 25 and 30% and the oil and gas services business is in a position where it needs to be busier than the norm just to keep up.
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