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

To: John Carpenter who wrote (11063)	2/9/1998 2:28:00 AM
From: Czechsinthemail	Read Replies (4) \| Respond to of 95453

John, Do you have the phone number for the RIG conference call? I probably won't be able to listen, but would appreciate any reports on it. Baird

To: John Carpenter who wrote (11063)	2/9/1998 8:28:00 AM
From: Teddy	Read Replies (3) \| Respond to of 95453

RIG reports $.46 and makes some good comments: "...J. Michael Talbert, Chairman and Chief Executive Officer of Transocean Offshore Inc. said, "Improved fourth quarter 1997 results were driven by our Mobile Rig line of business which continues to benefit from full utilization levels and increasing dayrates. During the fourth quarter of 1997, the average dayrate experienced among our 19 fully-owned and active semisubmersibles and drillships reached $106,000 a day, up 31% from a year ago. Based on current discussions with customers concerning future fleet availability, we anticipate continued upward pressure on rig dayrates." While discussing the business outlook for the offshore drilling industry and Transocean Offshore, Talbert concluded, ''Recent industry surveys indicate the possibility of increased exploration and production spending in 1998 with a growing percentage of expenditures directed to the offshore, particularly deepwater. Our customers are demonstrating a tendency to plan spending over a long-term horizon as evidenced by recent multi-year contract awards on our semisubmersibles..."