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

To: Gameboy who wrote (53847)	11/1/1999 10:19:00 PM
From: Razorbak	Respond to of 95453

Parker Drilling Capex Gameboy: >>>>If you're privy to some knowledge that Parker is planning to spend another $284 million dollars on capital expenditures over the next 22 months, obviously I'd be interested in hearing about it.<<< As you no doubt already know, this is a very capital intensive business. Old iron requires a lot of capital just to stay afloat. In the last K, the company said to expect $100 MM in capital expenditures in calendar year 1999. They've already incurred $36 MM in capex so far in the first 6 months, so that leaves $60+ MM for the last half of the year. Since total capex for Q3 was not detailed in the recent earnings release, one can only guess at the expected level for Q4. Needless to say, capex is a very significant component of the overall cash flow statement for any driller, not just Parker. Razor