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

To: Big Dog who wrote (85850)	2/1/2001 11:13:17 AM
From: Gottfried	Respond to of 95453

Big, an SEC filing from GRP appears to be a slide show of a presentation they gave yesterday in Vail, CO. This excerpt is especially interesting because it relates lead time to ww rig count... >GRP CAN SUPPLY WORLD DEMAND DEMAND FOOTAGE (IN THOUSANDS) 2,000 to 12,000 Existing Manufacturing 13,000 to 16,000 6 Month Lead Time 17,000 to 18,000 1 Year Lead Time Worldwide Rig Count Including Russia and China 400 to 2,400 Meet w/ Existing Manufacturing 2,500 to 3,200 Meet w/ 6 Month Lead Time 3,300 to 3,600 Meet w/ 1 Year Lead Time biz.yahoo.com Gottfried

To: Big Dog who wrote (85850)	2/2/2001 8:27:41 PM
From: Razorbak	Respond to of 95453

"Brazil Oil Industry Suppliers Bet on Fresh Finds" Friday February 2, 8:38 am Eastern Time By Andrei Khalip SAO PAULO, Feb 2 (Reuters) - Striking it rich may still just be a dream for foreign oil drillers exploring Brazil's offshore fields for the first time, but onshore equipment and personnel providers are already gearing up for a boom. Brazil started opening up its coveted oil exploration and production (E&P) industry to foreigners in 1997 and has since sold exploration licenses in two bidding rounds. Though the newcomers have not had enough time to determine whether the fields are oil rich, they are fueling enthusiasm with initial signs of ``black gold.'' Investment projects and capacity expansions are moving full steam ahead in the supplies and servicing area to provide both foreign newcomers and the state oil giant Petrobras (NYSE:PBR - news) with the necessary tools. This year alone, Brazil's oil industry should realize up to $6 billion in orders and investment, according to Brazil's National Oil Industry Organization (Onip). ``There is a whole lot of new technologies sent to find oil in Brazil's offshore blocks and there are great prospects there. Sure, we are gearing up for that,'' said a senior official at Baker Hughes Inc (NYSE:BHI - news) in Brazil. The U.S.-based company, which makes drilling and pumping equipment, is investing more than $7 million in the expansion of its unit in the central coastal city of Macae -- the base for oil exploration and production in the offshore Campos basin. The basin is already the source of about 80 percent of Brazil's oil production and a potential gold mine for further oil exploration. Petrobras, which lost its 45-year monopoly on oil E&P, is continuing exploration, but now along with some 35 newcomers -- among them such world oil majors as Exxon Mobil (NYSE:XOM - news) and Royal Dutch/Shell (quote from Yahoo! UK & Ireland: SHEL.L) . ``It will take another three-four years for the results of oil rounds to appear, but given the estimated 10-15 percent success rate in exploration we can expect very good results,'' said Eduardo Rappel, the head of Onip. Some foreign companies have already found oil, but commercial production has not begun yet. A survey released on Thursday by Onip showed that in the next five years the oil industry would need 18,000 highly qualified professionals. ``What we need now is to train personnel here and avoid importing a work force for the sector,'' Rappel said. Engineering giant ABB Ltd will be supplying equipment for confirmed Petrobras drilling works at Albacora Leste and Barracuda fields, and others are getting fresh orders from newly arrived foreign companies. Baker Hughes and Drill Quip, another U.S.-based company with a plant in Brazil, are both working to supply British Enterprise Oil Plc (quote from Yahoo! UK & Ireland: ETP.L) with drilling tools and pumps for its Bijupira-Salema project. Drill Quip is also expanding production in Macae, sources said. Shipbuilding plants that make offshore oil platforms also have received urgent investment for upgrades in order to convince oil majors, including Petrobras, to build platforms locally and not import from overseas. Rappel said three joint ventures were currently authorized to make platforms in Brazil and two already had orders worth a total of $200 million. ``In the whole industry we are now working with a minimum of $5 billion in orders this year, which is Petrobras' confirmed investment plan. On top of that, we should have up to $1 billion from foreign firms in Petrobras partnership deals.'' biz.yahoo.com