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

To: CrabDaddy who wrote (2759)	11/6/1997 2:40:00 AM
From: Czechsinthemail	Respond to of 95453

From Dow Jones: 10/30/97 EVI, Noble Drilling Added By Schroder To Recommended List NEW YORK -(Dow Jones)- Schroder & Co. analyst James Stone raised his ratings on EVI Inc. and Noble Drilling Corp. to "outperform significantly" from "outperform." The analyst said both oilfield-service companies were also placed on the firm's recommended list. Stone set a 12-month share-price target of $87 for EVI (EVI) and set a 12-month price target of $51 for Noble Drilling (NE).

To: CrabDaddy who wrote (2759)	11/6/1997 8:33:00 AM
From: Big Dog	Read Replies (2) \| Respond to of 95453

Crab Daddy-o -- There is no such thing as an "average" well. (I have a well in North Texas that pumps about 1 barrel a day, plus some gas...not exactly a barn burner) The reserves these oil companies are going after in the deep water could be like a billion barrels. Thats why they can pay huge amounts of money to "us" for the rigs. Oil companies are not good at operating rigs. It is unlikely they will ever buy a drilling company. There have been cases in the past where this has happened and it always turned out bad. Tenneco once owned Marlin Drilling for example. They ended up selling it off for almost nothing (thanks to me I might add). Now what you WILL see happen is partnerships with drillers. Maybe an oil company will own 50% of a rig along with a drilling contractor. But even this won't occur much these days since the drillers are so rich...they don't need the oil company. What helps the drillers is getting the multi-year firm contracts from the oil companies. This way they can justify building a new rig since they pretty much have it paid for at the end of the contract. (Can you imagine how much profit these guys will make when they have these rigs PAID for and then keep making these kinds of day rates...better get a new calculator to figure those numbers.) What we might see is some further consolidation in the drilling industry among the offshore guys. A little bird told me that a prime candidate to be bought is MDCO... I am off to Houston today for the weekend. Maybe I will learn some new things. mike simmons loosbrock offshore

To: CrabDaddy who wrote (2759)	11/9/1997 7:36:00 AM
From: Ken Robbins	Read Replies (2) \| Respond to of 95453

This is in response to your question about production rates. In the US a well producing 100 barrels of oil per day (BOPD) is considered a good well. When I was in Libya a well there had to produce 50 times that much to be considered a good well. In the late 1970's I worked on an engineering team designing a large drilling/production platform for the North Sea. The design production rate for this platform was 340,000 BOPD. Some of the individual wells were designed for 20,000 BOPD.