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


To: BigBull who wrote (67405)5/31/2000 6:39:00 PM
From: BigBull  Read Replies (1) | Respond to of 95453
 
Prudential gets it. I guess "Draconian cuts" lead to "Desperately Needed". I don't think laggards have begun to discount the capacity situation.

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cbs.marketwatch.com

We believe that the oilfield capacity that was removed from service in 1998-99 will be desperately needed and will have to be restored, providing considerable earnings leverage for the oilfield service and contract drilling industries, Prudential analysts Jeff Freedman and Matt Conlan wrote.

Freedman and Conlan explained that the increased oil consumption has brought worldwide commercial inventories to a near modern-day low.