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

To: Umunhum who wrote (84846)1/20/2001 4:37:20 PM
From: Umunhum  Respond to of 95453
 
Just the facts Ma'am

GOM Rig count figures from Baker Hughes:

9/29/00 - 137
11/3/00 - 148
12/1/00 - 145
12/29/00 - 151
1/5/01 - 167
1/12/01 - 175
1/19/01 - 181

bakerhughes.com

Click on the excel emblem next to "U.S. Rotary Rig Count", it opens up an excel file.

The info posted above comes from the oil and gas sheet.

The bears are spouting price controls and a recession is coming. I say we have to start drilling more or the high cost of energy is going to cause a recession. The only way out of the recession would be to drill more. It's a which came first the chicken or the egg type of thing.

Buy your favorite driller now. OSX 160 by July!



To: Umunhum who wrote (84846)1/20/2001 6:00:08 PM
From: rolatzi  Read Replies (1) | Respond to of 95453
 
A 20% increase in exploration is a no net increase in the amount of exploration since costs of drilling have gone up by that same 20%. That suggests that the level of spending is not adequate to increase the supply of oil and gas.
rolatzi


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