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

To: upanddown who wrote (81863)	12/15/2000 4:32:03 PM
From: tommycanuck	Respond to of 95453

We have 541 rigs drilling in Canada this week as we enter the winter season, drilled record number of gas wells last year and are projected to drill even more as we go forward. The stats indicated quicker drilling times which points to a reliance on shallower wells and very quickly declining production. The increase in rig orders at National Oilwell relates to the contractors trying to cash in on the move by producers to deeper more prolific well in the west and north of Canadas producing regions. You hit the nail on the head when you said that Canada will not be the saving grace in the near term.