Bill and Mel,
DRQ makes, sells, maintains, etc., the equipment that sits on the
ocean bottom and controls and meters the stuff coming up out of
the well. Also some of the equipment used to drill the hole in the first place. (Their IR will send you some interesting info. if
you request it.) Every hole drilled uses their or their comp-
etitors gear at a number of points in the process. Not sure,
but if I had to guess I'd say HAL and SLB are probably their
largest competition.
FGII, again, to my understanding, designs and builds the rigs
themselves. My estimate is that F. is going to do very well over
the next few years. Same deal, supply is finite (oil) and demand
is growing for the foreseeable future. I've spent enough years
arguing with machinery that works in the marine environment to
know that these things (rigs) wear out, rust away, are lost in
accidents and/or just plain get obsolete, to think that FGII's
not going to make a bundle with them. Their competition is mostly
offshore--Kempel Fels (sp.?), Kvaerner, (that one's for sure mis-
spelled!), Hyundai and others.
Boy do I hope you weren't looking for a different kind of comparison!
Lee (Who's long a tiny amt. of DRQ, and too broke to buy any F.,
even at these prices.) |
