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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Dave Johnson who wrote (599)	2/17/1998 11:12:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 2282

dave, I think Bayard Drilling looks relatively good among land drillers. While drilling has been going through a boom, they have been showing extremely strong growth, which I think many analysts have projected into the future. But... I think we are seeing hints of weakening demand for land rigs that may result in lower utilization of rigs and/or lower dayrates. Perhaps if the oil market shows signs of increasing consumption and strengthening oil prices, there will be a rekindling of land drillers and they will take off. But given the uncertainties, I feel more comfortable betting on offshore drillers, particularly the ultra deep drillers for reasons I outlined in the previous post. Eventually, as these things go, the sun will shine on Bayard and other land drillers. But it may be a long and nasty wait. good luck, Baird