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: jbe who wrote (17703)	4/2/1998 2:30:00 PM
From: Lucretius	Read Replies (3) of 95453

I'm not talking about any of that stuff, financial health is good but further improvement and keeping of that health relies on economic funidmentals of the business. These industries are cyclical. the cycle for the boats is MUCH shorter than the drillers cause of the ease in building new boats. Boats depend on more rigs being in service every yr so they can service those rigs. As I see it, Rig building is not keeping up w/ againg fleet retirements, thus dayrates continue to rise but the # of rigs at work declines. at some point this will reverse, but I believe there will be plenty of boats to service them. There's not a total lack of upside in the boat co's just mujch better opportunities elsewhere. IMHO of course! -Lucretius

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