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: upanddown who wrote (15081)	3/17/1998 2:17:00 PM
From: Broken_Clock	Read Replies (1) of 95453

John, I may be off base here, but i think the increase in day rates has been the fuel for drillers higher stock prices. Remeber, they aren't building new rigs yet(to any great extent). New rigs = more $ of income, but they haven't reached the point where new rigs are cost effect, rate wise. They have simply refurbed some existing inventory to make up for the deep drilling demand. RDC is really out on a limb if things don't turn around by next year. Those gorillas will eat them. I expext tho, that next year will be better. By then, half the oil producers will be bankrupt and dealing with in house revolutions.... PK

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