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

To: Ed Ajootian who wrote (34318)	8/10/2004 10:14:04 PM
From: Frank	Respond to of 206330

Ed -- these are the data I have and they may give a perspective to situation. NBR has 402 rigs in fleet with 248 marketed and 228 drilling. For PTEN the respective numbers are 345, 233 and 214. For GW 127, 96,93. For the next top 5 drillers the totals are 328, 283, 260. Then there are a host of Mom and Pops but these top 8 drillers account for at least 60% of all rigs drilling over 5k feet. And virtually all spare inventory is in hands of NBR, PTEN and GW. Simply put , if the Land Rig count is to increase NBR and PTEN must be convinced to put 2-2.5 mm in to each refurbishment. I reiterate that one very rarely sees these stark facts laid out. There is just the assumption lots of rigs available. Sort of like the assumption on WS that SA has easily tapped reserves and can make everything better. But the land rig count is much more finite and measurable. Frank