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: Thomas J Pittman who wrote (27883)	8/17/1998 11:58:00 AM
From: sammaster	Read Replies (1) of 95453

what was the average dayrate for jack-up rigs in the past when oil prices were this low? right now esv is getting about 35000 down from 60000... last may esv was getting these same dayrates but back then the price of oil was also higher than it was now...that implies that if oil prices do not rebound soon then dayrates will go even lower... eps for esv quarter when dayrates were 35000 was .25, so i still see downside for esv share price at 12 if dayrates go lower any comments? am i missing something? samir

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