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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Harold S. who wrote (20794)4/29/1998 2:45:00 PM
From: Czechsinthemail  Read Replies (2) of 95453
 
I think the land drillers have a wider swing between boom and bust based on variations in drilling demand. It is simply easier and cheaper to shelve land drilling projects because the contract terms are so short. They are currently being supported by strong gas prices, but I think their demand is shakier in the event oil prices drop further. If and when product prices strengthen significantly, the land drillers will probably outperform just about everything else. But I think there is more risk involved. I simply feel more comfortable with the offshore drillers given the overall risk/reward.
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