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: Teddy who wrote (13948)	3/6/1998 1:06:00 PM
From: Czechsinthemail	Read Replies (1) of 95453

Teddy, This article sounds like good news particularly for jackup drillers. This seems to counter the Dow Jones articles in WSJ and Barrons warning about the 33% of rigs coming up for renewal. If permits are up 20 - 25%, the indications of strong demand could further strengthen dayrates, which in turn flows through to the bottom line very quickly for the shallower drillers. I shifted some money from MDCO to ESV. I like both companies, but I think ESV is the better value at current prices. I'm cautious about the short term oil price effects, but I'm not sure we will have much drop in the drilling stocks before bargain hunters start grabbing for them again. Baird

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