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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: drsvelte who wrote (19403)4/16/1998 7:04:00 PM
From: Lucretius  Read Replies (1) of 95453
 
I'm guessing this was what was on the street today. Although, ESV is a shallow player and we all know their dayrates are likely to be soft. ESV is strictly shallow jackups and barge rigs as far as I know w/ a few supply boats thrown in. FLC may see weakness in its barges and MDCO and GLM should also see weakness. NE has only 4 deepwater jackups in the GOM, and last I spoke to them they had seen the dayrate drop by about $1000 per day, but nothing to be concerned about. I think the mkt is aware of these facts already. Hence NE, RIG, and DO are where they are and the rest are languishing. In the near term the other players may not do as well, but for a value play they are still a steal.

-Lucretius
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