Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Richard Kerns who wrote (6134)	12/24/1997 11:56:00 PM
From: bw	Read Replies (2) of 95453

<<If I remember correctly in the past bear market for oil services, we were all driving then. So that analysis really has little merit>> Yes..but what were the other factors for the past bear market in oil services? There was a much different supply/demand for rigs and the domestic economy was not in the same shape as today...With replacement costs at 450 mil. and a two year construction time for new rigs..the equation is different in our current situation. Even the analysts agree that the drillers are in a 3-5 year growth cycle. And as to your past posts re: "following the trends"...when these stocks start to take-off, you might adjust your views on the sector..

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