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: Greg Jung who wrote (40442)	3/19/1999 9:08:00 PM
From: Razorbak	Read Replies (1) of 95453

Day Rates <<I am presuming I am wrong and that day rates already are rising, otherwise the stock price rises in SLB, HAL, etc. are crazy. I would like to know why the rates are so responsive; my guess would be that they should lag, and improve only after substantial economic strength.>> Greg: Actually, your original premise was correct. Domestic rig count just dropped by 8 today to a record low, and day rates are not yet rising. dailynews.yahoo.com <<Only when demand increases and rigs are more heavily subscribed does it make sense that oil service stocks should make money again.>> Correct again, but the market likes to think ahead. Question is... how far ahead? Razor

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