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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 (2761)	11/6/1997 8:48:00 AM
From: stevedhu	Respond to of 95453

Mike I would like to be a fly on the wall when it comes to some of the conversations you might have here in Houston. Enjoy yourself Steve Carruth

To: Big Dog who wrote (2761)	11/6/1997 1:36:00 PM
From: Czechsinthemail	Respond to of 95453

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.) The R&B news on their new Korean building projects should be double good in this regard. In addition to having contracts to be able to finance the new construction, they will be taking advantage of the lower cost structure of the Korean shipyards. Looks like excellent news for R&B that should strengthen their already strong hand. Baird