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

To: Razorbak who wrote (57958)	1/6/2000 11:59:00 AM
From: Aggie	Respond to of 95453

Razor and all, Happy New Year. Update on the R&B / Callon blowout: biz.yahoo.com It does not appear to be too tough a well control situation. I would be interested to know how the situation evolved, but of course only the grapevine will supply that info. As I said before, R&B has had a tough year: Run aground, dropped deepwater BOP's, 2 blowouts. The price of losing your expertise base through downturn layoffs. It's looking like a busy first quarter for us operational types, but busy in the sense that we're committing to long term contracts for work to be performed later in the year. B2K is here to stay, but it won't likely manifest in a large way until earnings start getting announced in 3rd quarter. In the meantime, look for vacillating crude/gas prices and gently upward-ramping activity - at least in the GOM. The North Sea is a disaster right now, boats and rigs cluttering up Aberdeen like some post-apocalyptic nightmare. Large anchor handlers (15K horsepower)which were going on long term contract a couple of years ago for $25,000/day apiece are now competing on the spot market for around $3,000 for short term day work. My guess is the North Sea ain't going to get the Beta version of B2K, maybe they'll qualify for B2.001K, ha ha. Regards to All, except you wieners who can't stick to the subject. Aggie