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: Lucretius who wrote (14087)	3/8/1998 4:40:00 PM
From: Czechsinthemail	Read Replies (3) of 95453

LT, Thanks for the Houston Chronicle post. The bad news on oil seems tempered by relatively good news on natural gas. Does anyone have a handle on which offshore drillers are most heavily involved with gas drilling? My understanding is that ESV's projects are mostly gas and MDCO's are about 50/50 oil and gas, but I'm not sure about the others. If oil prices continue to fall, there will likely be continuing downward pressure on stock prices. The problem with falling oil prices is that eventually people project the falling prices further than they actually go. While most expect the drop to be short-lived, as oil prices fall, bearish sentiment may project a longer time at the low prices. If they continue to go down as a group, the best opportunities should be among the deepwater and heavily natural gas-oriented drillers. Would appreciate any information on relative percentage of oil and gas drilling for any offshore or land drillers. Baird

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