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: VLAD who wrote (41106)	3/28/1999 11:24:00 PM
From: Douglas V. Fant	Read Replies (1) of 95453

VLAD, not a bad idea! Merrill Lynch issued a bullish outlook on the OS sector in January- so they did pretty well I believe.. Headlines from the "Oil & Gas Report" in today's Midland Telegram: "Oil Production at Lowest level in 50 Years"- US production below 6mm bbls/day for the first time since WWII- imports up 11% to 10.6 mm bbls/day. Big drop was in Alaska production down 14% to 1.096 mm bbls/day- lower 48 only 5% drop from 5.1 to 4.8 mm bbls/day. Rig count in US onshore/offshore now down to 515 rigs- 180 rigs also active in Canada. Guys/Gals-Remember my calculations on replacement of gas reserves in North America a couple of days ago? There's now 11 less rigs running..... Also in Venenzuela, Chavez is appointing all of his ex-military buddies to run PDVSA. trouble is, they have no oil & gas experience....See how that pans out....

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