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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Aggie who wrote (48576)	7/29/1999 2:39:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

Aggie, here's some biggies drill drill drilllling - offshore! biz.yahoo.com biz.yahoo.com

To: Aggie who wrote (48576)	7/29/1999 2:47:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

<<Do you think that, once an upturn in drilling activity is sensed by the drilling contractors, that they may be anxious to ride the wave up, and therefore be more prone to put those cold stacked rigs in the shipyard for re-commission / upgrade / refitting before committing them to service - as opposed to taking them out of service later, when the market is tight?>> As I'm not involved in the business, all I can offer is my common sense opinion. Perhaps there will be a bit of this business in anticipation of utilization, but not a significant amount. Reasoning? -- This type of work calls for cash, with no guarantee of an upturn in business. Many of the drillers, particularly those with a higher %age of stacked rigs, are desperately conserving cash. Too risky, IMO, to incur expenditures for upgrades, etc. It seems to me that the nature of the biz is for companies to spend money only when things are going well and the cash is rolling in.