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: waverider who wrote (14283)	3/10/1998 1:45:00 AM
From: Czechsinthemail	Read Replies (1) of 95453

Diamond, My guess is that NE and CDG will do well. NE is heavily involved with international jackup rig contracts, many of them long-term contracts that are now rolling over at considerably higher dayrates. I'm not sure how much vulnerability they have to cutbacks in drilling projects as these contracts come up for renewal. I'm assuming most of their international drilling is oil drilling. The area of concern for possible weakness would most likely be in the jackup or submersible rigs. Perhaps a bigger risk might be slowups in new commitments for EVA4000 conversions if oil prices remain weak. CDG I haven't followed as closely, but I gather much of their drilling is based on shallow oil drilling that may be vulnerable. Others who know more of the details on these companies might be able to comment. Baird

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