Drill-Quip [ DRQ ] - oil drilling equipment ipo Message Board

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Gold/Mining/Energy : Drill-Quip [ DRQ ] - oil drilling equipment ipo

DRQ 22.60

-1.9%

Jan 7 9:30 AM EST

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To: Michael P. Michaud who wrote (76)	11/14/1997 7:54:00 AM
From: Lee Fredrickson	Read Replies (1) of 121

Mike: Yeah. Lumpy day. My portfolio is Band-Aid covered this morning. Still sponging up the blood. Profit-taking, wild market jitters, a mis-read Chevron announcement, hyper-hyped sector. I guess it's time for "Oil's Day in the Barrel." Dril-Quip's gear is used on a 'per well' basis, rather than per rig. So every well being drilled and/or completed uses the equipment produced and sold by DRQ and their competitors. While new builds will increase the number of rigs operating (ignoring attrition), D. will be selling stuff whether day rates allow much new construction or not. Or so this correspondent hopes. Better luck today. (?) Ol' Crossed Fingers

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