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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (33153)12/19/1998 9:06:00 PM
From: Douglas V. Fant  Read Replies (1) of 95453
 
George, Sounds fair! But I do agree that the best thing to do with Iraq is to help them build a strong free market economy rather than bomb them. Give them a stake in keeping the world in one piece....

Yes oil companies are adjusting budgets to be profitable with $10 oil. Now some independents will fail ,but don't let that fool you in the sense that world oil demand does not change just because a couple of oil companies fail.

Part of the drive to be profitable with cheaper oil requires better efficiencies amongst service providers. To that end drillers who perfect horizontal drilling, underbalanced drilling, and have good safety records should eventually develop an edge on drillers who cannot.

Also a number of companies are "farming out" parts of their field work, such as maintaining compression, water injections, operate pipelines, etc. So service companies who can provide these services profitably will flourish too.

Next 3D seismic is critical in developing prospects. I cannot see any decrease in the use of 3D seismic data as we move forward in time. Also look for service compnies who twin or partner or do large multi well deals with drilling companies in terms of supplying pipe, tubing and other services.

All of the above OS activities reduce the cost of finding and producing oil or gas. Hope that those thoughts help.....

Sincerely,

Doug F.
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