Strictly: Drilling and oil-field services Message Board

STOCKTALK

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 Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Thean who wrote (10669)	2/5/1998 11:18:00 AM
From: Lois R	Read Replies (2) of 95453

Hi Thean and pz 1) there really has been no difference in current dayrates vs.December. 2)(stacking) They have 89 rigs, 12 are stacked. Those stacked do need some capitol expend. They are there because of lack of demand at this time. 4 & 5)No buy back at pres. time - Feeling is to grow by aquisitions, etc. They have about 50 Million in balance sheet. 6 & 7) Historically, 1st quarter is soft. Pioneer is still using all rigs. Things are not exactly as dire as when this was first announced. Very good probability that there will be fewer rigs then originally thought called off contract. Audit will be completed around Feb. 13 - then earnings will be announced. UTI is more heavily into Gas drilling then oil New contracts generally not announced like they are in the D/W sector Lower contract rates among land drillers over the full spectrum have really been on an isolated basis L

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next