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: Thean who wrote (13668)	3/5/1998 8:11:00 AM
From: Teddy	Read Replies (2) of 95453

Yeah, just what i wanted to hear: ...Steven Webster, the Company's President and CEO, said, ''Our industry continues to enjoy a balanced rig market. In particular, R&B Falcon has capitalized on high utilization and increasing dayrates in all of our drilling markets, while also benefiting from our ability to add contracted capacity with attractive returns. We believe our earnings momentum will continue over the foreseeable future due to capacity additions, particularly of new deepwater units for which we have long-term contracts in place, and the ongoing push of dayrates toward replacement cost levels for the balance of our working fleet. Despite the weakening of spot oil prices in recent months, our fleet remains committed and rate improvement is continuing... So who should we believe: Barron's or people in the industry?

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