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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (40765)3/24/2005 8:43:57 PM
From: Frank  Read Replies (2) of 206223
 
The land rig business is on fire. Both data and anecdotal evidence are telling us that virtually every available rig in NA is working or on its way to the next job. One can only imagine what dayrate increases are --heard of one case where the dayrate rose $2500 per day and the contractor required a two year commitment from the operator if he wanted to keep the rig. There are no functional rigs left and no crews to man them anyway. In addition , the well servicing rates are also steadily rising --NBR and KEG here. Looks like the several dozen rigs NBR and PTEN have sitting in the weeds will be refurbished as long as the operator who wants them pays through the nose and commits for a year or two --if they can find drug free crews. Then look at the RDC and HP news on dayrates and you wonder --place it all on black and walk away for a while? 1225 NG storage next week and then its run for the roses --or are you thinking summer 2005 will be cooler than last year -- that's a double zero bet --Frank
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