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Politics : High Tolerance Plasticity

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To: pbd007 who wrote (547)	2/28/2001 11:18:01 AM
From: kollmhn	Read Replies (2) of 23153

pbd- Within the last a day or two I read a post (here?) that expressed concern about us being near the top in drilling because it has gotten so expensive. Here's some data put out by GS: - February U.S. drilling permits - often a leading indicator of the US rig count - rose 5.1% sequentially on a 3-month trailing average basis to 3,047, excluding coal bed methane permits. Permit levels remain in line with the current cycle high of 3,053 in October 2000. - U.S. land drilling permits were up 1.8% sequentially on a 3-month trailing average basis to 3,060, including coal-bed methane permits. - U.S. offshore drilling permits were up 23.0% sequentially on a 3-month trailing average basis to 209, setting a new current cycle high. The previous high was 170 in January 2001. - U.S. oil drilling permits rose 6.3% sequentially on a 3-month trailing average basis to 883. - U.S. gas drilling permits increased 7.2% sequentially on a 3-month trailing average basis to 1,217, also setting a new current cycle high. The previous high was 1182 in December 2000. Sure looks like all is well.

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