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: iandiareii who wrote (20878)	4/30/1998 1:40:00 PM
From: RGinPG	Read Replies (1) of 95453

Patterson<PTEN.O>sees rig demand staying weak SNYDER, Texas, April 30 (Reuters) - Patterson Energy Inc. Thursday predicted weak demand for drilling rigs will persist until oil and other commodity prices rebound. Cloyce Talbott, company chairman, said demand for rigs began to sag in December and "the situation is not expected to improve without an improvement in the commodity prices. Patterson, based in Snyder, Texas, provides land-based drilling services to independent oil and natural gas companies. The company said it owns 114 rigs, of which 108 are operable. ((New York Newsdesk, 212 859-1700)) REUTERS Copyright REUTER 10:58 04-30-98 The bad news is out.... time to buy.

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