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: Big Dog who wrote (26061)	7/20/1998 6:47:00 PM
From: Broken_Clock	Read Replies (1) of 95453

Doggy Dude...I think that it will take a while for the current production that is "on line" to deplete a bit before a little drilling panic takes hold. Interesting concept on the deepwater observation that youmade. They are "expecting" to find mucho oil deep offshore. If they start hitting dry holes then wouldn't that pressure shallow rates upward where the fields are fairly well established? Question: If oil consumption stays flat or rises slightly, how many offshore rigs are needed to maintain the status quo(reserves stay at same capacity as today?) with a 95% rig utilization rate?

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