I think I could mention 20 random stocks and you could still say... "I hold positions in most of the stocks you mentioned." :o)
I don't mean to post things that everybody knows, but here is news from yesterday. Industry Fundamentals are sound. With news of energy and commodity demand rising, and various doom & gloom news, energy may be the safest sector to be in. And most energy PE's do not seem out of line. SU and some other big names are a little high, but the services are still low. What to do? I have lightened up on SU (which used to be my largest), but if I was not concentrated in energy, I'd feel very vulnerable. I don't know why I am posting this. Just rambling here...
cheers
grommit
May 15 -- Petroleo Brasileiro SA, Brazil's state-controlled oil company, leased about 80 percent of the world's deepest-drilling offshore rigs to explore prospects including the Western Hemisphere's biggest discovery in decades.
The company's ``insatiable'' demand is forcing producers including Exxon Mobil Corp. and BP to pay more as they compete for the remaining units... Explorers that don't have rigs under contract may delay projects or pay rents of more than $600,000 a day.
``The oil majors have their backs against the wall as Petrobras has aggressively locked up significant rig capacity,'' said...
Petrobras is negotiating for as many as 17 more vessels to probe the Tupi discovery and neighboring fields, said Bill Herbert, an analyst at Simmons & Co... The company already controls almost seven times as much capacity as the next biggest user of rigs that can drill in 7,500 feet of water, according to research by Dahlman Rose... |
