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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Chuzzlewit who wrote (16317)3/24/1998 2:09:00 PM
From: Czechsinthemail  Read Replies (1) of 95453
 
Regardless of what OPEC is up to around their drilling and/or production, the major international oil companies and independent E&P companies are not bound by the newly announced production cutbacks and most will go hoggishly after any rigs they can get, particularly if oil prices look reasonably good. Their long-term predicament is finding reserves to replace production. And in a capacity-constrained environment, it's first come, first reserved.:-)
Baird
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