Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Ensco International Inc. (ESV) -- Ignore unavailable to you. Want to Upgrade?

To: Zakrosian who wrote (1863)	11/6/1999 4:36:00 PM
From: steve harris	Read Replies (1) \| Respond to of 2005

Zakrosian, thanks, I started the printouts and I might as well keep up with the changes. My guess would be the OPEC cuts. OPEC glut is how we got into this last year, and their cuts are my basis for the $10-23 climb in oil this year. Someone at an OPEC meeting to get mad would be all it takes for $10 a barrel again, and ESV back to $9. Here is a link I use often: offshore-data.com Paul has several oil related on his homepage: users.abilene.com users.abilene.com There is obviously a surplus of production available and current inventory. Ensco has a lot of rigs working compared to other drillers and very little debt. A company with a lot of new rigs that are idle as Falcon FLC will be/is in trouble in my opinion. biz.yahoo.com FLC this year has 39% rig utilization. Where ESV rig utilization was 74% biz.yahoo.com Carl Thorne's comments during his 2Q conference call caused me to start looking at these oil/gas drillers with high debt and idle rigs closer. I believed and still believe Mr Thorne has been around for a long time and knows this business thru the best of times and the worst of times. I also like CR Palmer from RDC. steve