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

To: Bill Li who wrote (2998)	11/15/1997 2:52:00 PM
From: JGreg	Read Replies (1) \| Respond to of 95453

I'm pretty sure that the Chevron CEO in an interview at Williamsburg said that the elevated day rates were of no concern to E&P (my paraphrase). The interviewer (I think it was Mark Haines) was surprised that the CEO would publically give a green light to increased rates, but the CEO was very confident that they could make money even with higher rates because the technology of finding the oil has improved so much. I've never read anything suggesting that the oil companies would like to pull back to encourage the lowering of day rates.