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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: AL R who wrote (4700)2/19/1998 2:47:00 PM
From: SofaSpud  Read Replies (1) of 24921
 
I've spoken with people from the oil well contractors assn. who suggest that things are going along OK. Rig count seems to be holding up, too. No one is still talking about matching the '97 drilling figures (16,484 wells), but there's still lots of talk about the "second best" year on record.

The guy had an interesting spin on investment strategy in the sector. He pointed out that there would be 100,000 producing wells in Alberta this year, and that the current situation strongly encourages workovers. So he's putting his money down on anything to do with service rigs.
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