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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (13036)2/26/1998 9:56:00 PM
From: Thean  Read Replies (3) of 95453
 
Big Dog, I understand you have said here many times that you see no reduction in companies looking for offshore rigs. Let me put it on a different spin and I'd like to hear your comment. This is in no way personal.

Could it be that due to the nature of your profession your objectivity is slanted?

You told us you just went back to work as a rig broker. If I understand this right it means you are one of the eight brokers in the world that make buying/selling rig deal happen. Isn't it true then that the majority of customers/clients that you come into contact with in your business are those who are looking for rigs. At the same token, there could be many people who have decided not to look for rigs now as a result of various reasons (declining oil price, future e&p cut fear, etc.) but you don't come across because they don't need you. Therefore, your impression is that the offshore rig demand is still high in this industry.

What is your own view on this?

As to tomorrow and the next week, I'm sure the topics of consolidation, merger, economy of scale, link-up, etc. are going to abundant. I just love Joe Kernen's french pronounciation of CXIPY. The oil traders have began to discount the ability of OPEC to pull together (read Bloomberg energy). Tomorrow could be interesting, being Friday and all.
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