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: Chuzzlewit who wrote (25136)	7/4/1998 1:03:00 PM
From: Gottfried	Read Replies (1) of 95453

Chuzzlewit, since drillers are adding little capacity, earnings growth depends mostly on day rate increases. After recovering the decreases seen in some areas recently, how much upside is there close in? Last summer the stocks acted as if day rates would continue to increase forever. Now we know they don't. I fear day rates will be slower in growing, even after crude prices recover. Gottfried

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