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: Czechsinthemail who wrote (23404)	6/4/1998 1:10:00 PM
From: marc chatman	Read Replies (2) of 95453

Baird, when you talk about the rise and fall of oil prices and the uneven impact on the companies in the sector, are you talking about the short term impact on the stock prices, or the impact on earnings (which may not show up so quickly)? I tend to agree with your assumptions on the drillers, in that the only one I would touch is RIG. (ATW is a neat play, though.) I don't know what it would take to unstack the land rigs, but I'm betting it's a lot more than we are going to get out of OPEC. As for the PE's of the service companies, I think the recent declines bring the PEG down to very attractive levels on many, and with earnings due next month, the PE's should be reduced another notch for many. Well, let's hope in any event that the move holds. I'm watching a steady slide as I type this. I'm also not sure that we are seeing any fund buying (as opposed to speculating and short covering).

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