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: Douglas V. Fant who wrote (35432)	1/20/1999 12:34:00 PM
From: Hrothgar	Read Replies (1) of 95453

Hey Doug- Long time lurker finally emerging... I would ask about the status of the the deepwater rig newbuilds and conversions. Are many/any of them in jeopardy of being cancelled or postponed, or does their deep water orientation still insulate them somewhat from these potential events? Basically, I would like his opinion on how stable the conversion/upgrade/newbuild market is for these deepwater projects. In addition, his opinion on the rig construction/repair market as a whole would also be appreciated. This would be a discussion directly related to companies such as FGI. With its majority of deepwater projects, both active and backlogged, FGI seems to have weathered the downturn quite well with respect to earnings. Unfortunately, their price has been pulled down in sympathy with the whole OS sector. Thanks-

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