Trico Marine Services (TMAR) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Trico Marine Services (TMAR)

TMAR 22.42

0.0%

9:47 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: JZGalt who wrote (732)	8/25/1998 10:55:00 AM
From: D.J.Smyth	of 1153

spoke with global marine and cliffs this am regarding their short term jack ups in the gulf. the ratio continues to be 1/3 deep water to 2/3 shallow water with rates ranging from $145,000 a day to $25,000 a day, average shallow water rate is around $45,000 a day which is a drop of 20% from January. contracts on their rigs continue to be renewed even with $12 oil with utilization at around 85%. most short term contracts go out to January on average which should be a stabilizing factor for the boats. you'd have to assume oil staying at $12 for nearly all of 1999 to assume anything close to $1.29 in earnings for TMAR for 1999 by my calculations. for this year, it's hard to imagine Jefferies estimates for the next two quarters given the current rig count/renewal situation.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next