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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: John Carpenter who wrote (32696)12/10/1998 2:09:00 PM
From: The Ox  Read Replies (2) of 95453
 
I agree that there were extended periods where the stock price was flat. This was not simply a function of oil prices. The industry has changed dramatically since the early eighties. The most obvious change is in the reduced number of rigs used in the exploration and production of oil and gas. I believe at one point there were over 5000 rigs in use and that number is now less then 1000. The oil service companies have learned a little since those days. I expect they are much better prepared to deal with today's issues then they were back in the early eighties. I'm not a wildcat oil man, I will have to defer to others who have been around the industry longer then I to tell me whether or not my premise is accurate.
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