David, Parker looks good. Thanks. The street.com has two drillers
stories. (2-week free trial available)
Excerpt:
The latest Offshore Rig Locator, which tracks rigs and day-rate
contracts, shows a $2,000 drop in the bottom range for both the 250
feet and the 300 feet class of jackup rigs in the Gulf of Mexico. In March,
the day-rate range for 250 feet jackups was $34,000 to $42,500. In
April, it slipped to $32,500 to $42,000. Similarly, for 300 feet jackup rigs,
the March range was $55,000 to $65,500, while in April it was $53,000
to $65,000. The Locator tracks contracts over the past three-month
period.
Industry observers don't view this as a problem unless, first, oil prices
do not firm considerably by the end of the year, or second, natural gas
prices fall from the $2.50 range at which they are presently trading.
thestreet.com
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