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: Douglas V. Fant who wrote (25540)	7/12/1998 9:55:00 AM
From: marc chatman	Read Replies (1) of 95453

Well, it shall remain to be seen whether the situation in Nigeria deteriorates to the point where oil flow is affected. And before anyone starts to get too excited, check out the offshore rig locator: oilonline.com A few of the favorites have rigs in Nigeria. The leader of the pack appears to be NE with 6 rigs. Doug, I'm not at all familiar with Nigeria, but it seems to me that if the situation gets worse, it would hurt exploration activities as much or more than production activities. And if the rigs now in Nigeria have to be moved, that makes more rigs available to other areas (i.e., more rig supply, lower dayrates and/or utilization). On the other hand, perhaps exploration in other areas would be stepped up to compensate for Nigeria. (I have no idea which service companies could be impacted.)

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