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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Czechsinthemail who wrote (20950)5/1/1998 12:03:00 AM
From: Tulvio Durand  Read Replies (1) of 95453
 
Baird, I sense an almost universal belief that, barring some unexpected middle-East conflict, the oil glut will persist for at least six months. That means the land drillers are dead money for six months and perhaps longer. The only positive in the oil patch is the lack of sufficient offshore rigs which is responsible for sustaining and increasing day rates. The offshore rig shortage will persist for several years thereby making the offshore drillers, especially those operating in deep waters, relatively safe and sound investments. Does that tell the whole story for land vs. offshore drillers? Tulvio
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