Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Think4Yourself who wrote (85666)	1/30/2001 12:24:32 PM
From: Tomas	Respond to of 95453

WELL WELL WELL! Record oilpatch activity predicted for 2001 Calgary Sun, January 30 By Todd Nogier, Business Editor Oil companies bloated on record profits will fuel an unprecedented wave of oil and gas well drilling in Western Canada this year, say experts. Two forecasts were released yesterday, both predicting unprecedented oil and gas well drilling for 2001, a sunny outlook that isn't expected to cloud over anytime soon. "Historically, we're way, way above anything we've ever seen, so from an exploration and development perspective, we will see records shattered," said Miles Lich, an oilpatch service industry analyst with Peters & Co. in Calgary. Peters & Co. is forecasting 19,400 wells will be drilled in 2001, soaring much higher than the 16,507 drilled in 2000, which edged out the previous record of 16,485 set in 1997. The Petroleum Services Association of Canada predicts 17,500 wells will be drilled this year. Record oilpatch activity in 2001 will mean a record amount of cash will be spent by producers on oil and natural gas exploration and development, at $23 million, estimated Lich. That figure would be even higher if it weren't for restrictions in labour and availability of rigs, he said. "Clearly, we're running at full capacity (now)," said Lich, noting rig fleet expansion and recent recruitment drives should help the oilwell service industry meet demand in 2001. Last week, Imperial Oil, Shell Canada, Suncor Energy and Petro-Canada announced their most profitable year ever, raking in a combined $3.55 billion in 2000 --their coffers bursting from the unprecedented one-two punch of high oil and gas commodity prices last year. And analysts expect the profits parade to continue. canoe.ca

To: Think4Yourself who wrote (85666)	1/30/2001 12:49:22 PM
From: Tommaso	Read Replies (1) \| Respond to of 95453

I think it was just last night that the news came out that a bunch ofd new natural-gas-powered generators are being rushed into place near New York City to boost electrical production next summer. I don't know how many others are being set up or what the total demand will be, but it's hard to believe that gas production can be increased enough to keep up. Rig builders and operators have been knocked down repeatedly since the early 1980s and are cautious about over spending on new equipment. It may turn out that my best investment is in something like NCN, which is returning a 27% yield. It used to be said that over the very long haul, the stock market return was 9%. In any case, I don't think natural gas will be plentiful again for several years. Any dip in prices spurs consumption.