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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Elmer who wrote (32199)11/28/1998 3:03:00 PM
From: marc chatman  Read Replies (1) of 95453
 
Elmer, one point to take into account:

You say "#2 is just the amount of rigs available."

With the great new technology for finding and accessing oil (technology which wasn't available in the 80's) and for maximizing the output from each well drilled, I would assume a much smaller number of rigs today can more than take the place of the rigs available more than a decade ago. This is just an assumption on my part, and there are probably some people here who can confirm or dispute my theory. But it seems logical based on my limited knowledge of the business.
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