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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (26753)	10/31/2003 1:35:09 PM
From: Tommaso	Read Replies (1) \| Respond to of 206281

I imagine that the Raymond James report on Canadian Royalty trusts is proprietary and for clients only, but I certainly wish I knew what was in it: Message 19448139

To: Tomas who wrote (26753)	11/4/2003 10:01:06 AM
From: Tomas	Read Replies (1) \| Respond to of 206281

Reed Rig Census Reaffirms Healthy Rig Utilization in 2003 Raymond James' Energy "Stat of the Week", November 3 "Rig utilization rose to 78% this year vs. an estimated 67% last year. Based on our rig count forecast, we are on pace to reach peak 2001 utilization levels of approximately 90% by next year's census. Although not as robust as past years, consolidation among drilling contractors continues, with the total number of contractors dropping 14% since 2000. There are now 179 drilling contractors in the U.S. . less than half the number of contractors just 10 years ago. Currently, the top five U.S. land rig operators control approximately 70% of the market. The rig count would only have to increase another 20% (or 220 rigs) before the industry totally runs out of rigs. Let’s not forget that the U.S. rig count was up over 25% this year and the E&P industry did not come close to spending their cash flows. Some of the biggest beneficiaries of these trends should be: Patterson-UTI (PTEN/$28.59/Strong Buy), Nabors Industries (NBR/$37.80/Strong Buy), Grey Wolf (GW/$3.21/Strong Buy), and Unit Corp (UNT/$19.39/Strong Buy)." rjcapitalmarkets.com