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

To: HH who wrote (6581)	1/5/1998 12:57:00 AM
From: Dragon 1	Respond to of 95453

Thanks anyway for the reference. FWIW, the Feb issue of Worth magazine lists GW as one of its 10 top buys.

To: HH who wrote (6581)	1/5/1998 1:00:00 AM
From: Erwin	Respond to of 95453

Thoughts on Day Rates, Deep/Shallow Heyward, This is not in response to your post but reaponding to someone was the only way I knew how to get a post in here. There has to be another way but ......... This is from an update by J Jubak in Microsoft Investor 12/30/97. Interesting reading ......... Erwin The market continues to dish out punishment to oil-drilling and -services stocks. Falling oil prices, the logic goes, will lead some companies to cut back on their exploration programs, which will mean canceled orders and falling day rates for the companies that rent out oil rigs, or who provide services to drillers. So far, though, I haven't seen any signs of canceled orders. Last week, for example, Friede Goldman (FGII) announced two deals totaling $264 million to outfit rigs. And Schlumberger's (SLB) contract-drilling unit announced two five-year contracts -- one with Elf Aquitaine off West Africa's shores and one with Texaco in the Gulf of Mexico. But price is another question. It looks like rates for different kinds of drilling rigs may be starting to separate. Rates for rigs capable of working in difficult environments such as the North Sea are still climbing. Rates for shallow-water rigs seem to be flattening. I'm going to spend a few more days trying to confirm or refute these suspicions, as well as studying whether Rowan Companies (RDC), recommended on October 21, offers the best mix of rigs and services for the developing environment.