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To: JoeDi1213 who wrote (49972)8/27/1999 1:35:00 PM
From: upanddown  Respond to of 95453
 
Baker Hughes rig counts out. Looking good but all the action is on
land. May not be long before we pass 1998 counts since rig count
went down hard in the final 2 qtrs of 1998.

US 668 + 23
CAN 282 + 20
NA 950 + 43
GOM 103 - 1
OIL 117 + 5
GAS 550 + 19

John



To: JoeDi1213 who wrote (49972)8/27/1999 1:49:00 PM
From: upanddown  Respond to of 95453
 
Re my previous post on BHI rig counts....the BHI count of rigs actually working in the gulf is 103, down 1. The ODS count of rigs under contract in the gulf is 128, up 4. The gap of 25 between working and contracted is the largest that I have observed and tells me that there are more rigs signing new contracts than rigs coming off contract even if some are not yet at work on the new contracts. It could be a precursor of better times ahead in the water. JMO.

John