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 (43232)	4/26/1999 9:53:00 AM
From: diana g	Read Replies (2) of 95453

Doug and other Oil Business Insiders, If Producer compliance to pledged cuts is good, and oil price stable in high-teens, and Demand seems to be growing, (in other words, the best of all possible worlds), do you think it possible that the majors might find it desirable to increase spending earlier than expected? It would seem that advantages could be gained by being "early to the party "(<G>) to contract drillers etc. This would be balanced by greater perceived risk since producer compliance would be less proven, etc. But being early would clearly be an advantage in getting a better deal, yes? And every day the balance of risk/reward moves further toward favoring action. (Assuming compliance, etc) So it seems to me there might be some pressure to move forward before one's competition. How bold/conservative does your experience lead you to believe the majors will be? Will they almost certainly wait 6+ months or till 2000? Or might some try to 'Steal a March' and thereby increase competitive pressure on there peers to compete for drillers etc at early/cheaper rates? regards, diana

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