Anyone following UTI Energy Corp.? Message Board

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Gold/Mining/Energy : Anyone following UTI Energy Corp.?

UTI 23.13

+0.9%

Nov 26 3:59 PM EST

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To: Harold S. who wrote (569)	4/30/1998 2:22:00 PM
From: R. Murphey	Read Replies (1) of 1305

Harold S.: UTI's announcement should be interesting. The weakness since the Patterson release, today, is fascinating. In spite of their cautions, during the "weak quarter" 95% of their rigs were operating. How long does it take to sink a well? How many wells can a rig bore in a year? Additionally, on Apr. 9th when UTI announced the acquisition of Peterson Drilling Co., 100% of Peterson's rigs were operating. Since both Peterson and Patterson operate in the same geographic region, and since there appeared to be some relationship between Peterson & UTI since at least Jan. 31, could Patterson have just lost market share to UTI/Peterson. All of this is my humble opinion, but compared to those twitchy traders who abandoned today, I'll be patient. The operating percentages are just too high to indicate real weakness.

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