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: wggm who wrote (18713)	4/10/1998 7:03:00 PM
From: Shelia Jones	Read Replies (2) of 95453

Can someone please interpret this for me ? Anyone?, anyone? from post #18713 "Third, while day rates for the high-end jack-up rigs are softening, we believe that day rates for the shallow rigs will continue to increase slightly. This is a function of cost/value tradeoff. In the shallower waters of the GOM where rig demand remains strong, oil companies will be less willing to pay higher rates for relatively small incremental value of a high-end jack-up rig, especially on with a significant day rate differential. Obviously, day rate improvements for shallow jack-up rigs will be limited be the pricing set by the high-end jack-up rigs. However, we do not expect high-end jack-up rates top fall far enough to depress shallow water rig rates...."" It sounds like a rig is a rig is a rig. And concerning ESV, are the change in estimates changes to the already estimate reductions re: post 18417? This was a 5% reduction already, but from what? Do you have the number Simmons used? Since this came out before the open and again during the day I would figure we are the last to know of this report... Time to color the eggs.

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