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: DNaber who wrote (8751)	1/19/1998 3:16:00 PM
From: pz	Read Replies (1) of 95453

Dave, <<Has anybody seen anything to indicate a slackening in land dayrates or utilization? Also, I've read that many of the land drillers wells are natural gas wells.>> I would think that the land drillers drilling specifically for gas would probably recover first, since they probably will not experience any slowdown due to the fall in oil prices. A good friend of mine who works for a major well logging company in Texas, mentioned a couple of days ago that one of their larger customers had decided to just drill 1 well out of what was supposed to be a 3 well package, due to the decline in oil prices. This is the first that I have heard of any company cutting back. This well is in an area where they are implementing secondary recovery, so this could help explain why the economics are a problem. Regards, Paul

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