SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Thean who wrote (3095)11/18/1997 10:38:00 PM
From: pz  Read Replies (1) of 95453
 
Thean,

In answer to your question...people are not scaling back right now, just the opposite is happening. Companies have learned to live with $20 oil and can make a nice profit at that price. 3-D seismic and 2-D seismic have lowered the risk of drilling a dry hole tremendously. There are very few new rigs being built in our local area if any, since people remember the bust not too long ago, when drilling rigs were cut up for scrap iron.

I'm very positive on this sector since I see day to day that things aren't slowing down. I look at what is happening now as sector rotation. The bottom line is...will these companies continue to produce the great earnings....from what I can see the answer is yes.

Regards,

Paul
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News