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

To: SliderOnTheBlack who wrote (81850)	12/15/2000 6:48:03 PM
From: sportsman	Respond to of 95453

Slider, There is a shortage of rigs that are ready to drill. There is a lot of idle capacity BUT it is need of refurbishing. Nabors moved several rigs into this area recently and have been drilling. A local company opened a yard to refurbish 10 additional rigs for Nabors that will start drilling for BP Amaco when they are ready to go. I was talking to a landowner last week that said there was 32 locations staked just around his ranch waiting on rigs. Furthermore, the largest "mom and pop" workover co. located here has a new rig in the yard that has been waiting for a crew. There is a shortage of workers and equipment in my area and I bet this is true in every large natural gas field. I do agree with you additional gas will be hitting the market, no doubt about it. It will be interesting to see how soon supply catches up with demand. I believe we will exit winter with low supplies but will have plenty of new supplies to bring gas prices much lower in the spring. Sportsman