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

To: BigBull who wrote (63614)	3/31/2000 10:51:00 PM
From: Aggie	Respond to of 95453

Hi Big Bull, Well....National Oilwell is another rig manufacturer. Since they've taken over Oilwell and Emsco, there really aren't too many other folks to buy rig pumps from, for example. Other equipment are drawworks, travelling blocks, top drives, etc. They also supply workover rig equipment - acid stimulation and coil tubing equipment, etc. When the rig building starts up again - or upgrades start happening (rig pumps being upgraded from 5000 psi to 7500 psi, for example, to handle deeper or extended reach wells) - then look for NOI to start having bigger revenues. Right now it looks to me like they're riding the wave. What you are looking for are the people who provide downhole completion equipment. The Iraqis will be looking to pull completions and replace non-functioning components, possibly do a little cleanup work. I don't see them buying workover or drilling rigs, or even spending too much money on upgrades. The lion's share will go towards tubing and downhole equipment, with scraps for completion and fishing expendables. You also might explore wellhead equipment and surface facilities - although I believe that most of their production is sweet (non-sour). Good luck - but my opinion is that the Iraqui revenue will be more hassle than it's worth to companies that are already strapped to provide equipment and supplies to prompt-paying customers. Regards, Aggie