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: SliderOnTheBlack who wrote (33535)	12/26/1998 1:45:00 AM
From: Douglas V. Fant	Read Replies (2) of 95453

Slider, Whew! Heck of a post! I want to enlarge on one point that you mentioned. And that is technology is making a big difference in this industry like all others. There are the obvious uses of networks or the internet to link companies employees together "real time" on projects. Second technology in the OS sector makes finding and producing oil cheaper. For example through the tubing and underbalanced drilling did not exist 5 years ago. One would have said that drilling in an induced blowout scenario that you'd be nuts- but that is actually what underbalanced drilling is. Another cost saver. In any case I mentioned 18 months back here that $15/bbl wti was a genral planing guide for engaging in oil projects. My guess is that that price has fallen even further for planning purposes now.... BTW I bought into Weatherford just before Christmas, based upon a similar rationale that you had mentioned....My guess is that the market corrects through about Jan 15th, but my guess is that OS stocks won't participate in that correction. Let's see if this pony runs.... Sincerely, Doug F.

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