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

To: hdrjr who wrote (55527)	11/28/1999 11:19:00 AM
From: hdrjr	Read Replies (1) \| Respond to of 95453

Roebear, I had the opportunity to visit with my first cousin's husband over the holiday. He has worked in the E-Texas oil and gas fields for 25 years, first with Delta and now with Nabors who bought out Delta. He said that he had 17 rigs working 4 months ago and now has 32 drilling. All are land rigs drilling for gas with the exception of a couple in the Austin Chalk looking for oil. Of course I forgot to ask how many rigs he still had stacked. He did say most of the rigs that are now coming on-line need substantial work therefore they must be getting down to the bottom of the barrel. He also said their dayrates are increasing although he would not quantify. His regional office is the old Delta office in Tyler. And they are having difficulty hiring back skilled people. On Thanksgiving Day he had to leave and check several rigs and he said he is putting way to many hours to keep up. hdr