Lufkin Industries (Nasdaq: LUFK) Message Board

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Non-Tech : Lufkin Industries (Nasdaq: LUFK)

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To: Todd D. Wiener who wrote (44)	3/22/1998 4:08:00 PM
From: Steve Hufnagle	Read Replies (1) of 103

Do you mean Lufkin's sales are tied to the number of new wells that are placed in operation? In today's Washington Post George Will discusses oil prices. The article mentions oil companies are selling oil for less but are still eager to find oil because the costs to produce it have fallen less than the price of oil. With this in mind is that why the recently published $14.00 per barrel figure is often mentioned. Would the number of new wells (say as a comparison to the year before) be an accurate predictor of future sales of oil equipment than the price of oil vs. the cost to produce it. If so how could we all learn more about the number of new wells. There is a web site related to the International Association of Drilling.

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