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

To: Jeffrey Beckman who wrote (2662)	11/1/1997 2:32:00 PM
From: Chuzzlewit	Respond to of 95453

Jeffrey and thread: I strongly suggest you buy today's NY Times. The article contains graphs of daily rental rates of jackup platforms operating at 250-300 feet in the Gulf of Mexico, and oil platforms under contract vs oil platforms available world wide from 1980 through the present. This article is a must read! Two points from the article: "... demand for drilling capacity is so strong that a number of experts and industry executives doubt that the industry will be able to keep up." And "... over the long-term , the oil service industry will be unable to gear up fast enough." "Some oil companies have postponed or trimmed back exploration plans because of shortages of equipment and skilled workers. Others are beginning to question whether some of the more marginal fields are worth the investment because while the price of crude oil has remained fairly steady, the rental rate for rigs has soared." There's a lot of meat in this article. Regards, Paul " ... others [experts]