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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (4703)	2/19/1998 3:03:00 PM
From: Kerm Yerman	Respond to of 24921

David P / Drilling Rates My feeling is that companies will not cut back in drilling plans for the first quarter. The noticeable reduction in drilling should begin somewhere around the end of the second quarter. I've seen the recent figures indicating about 500 less drillings in 98 vs 97. Most of that reduction will be seen in the third quarter. At that time the reduction will look drastic because I think the bulk of the 500 drillings will be in that 3-4 month period. I then expect to see drilling numbers to approach the levels of the 4th quarter of last year. Emphasis will be to fill new gas pipeline capacity and an taking advantage of increased oil pricing. That's the way I see it, this the 19th day of February. By the way, thanks for the kind words about the Korner. It's nice to know that the few who visit the site find it of some value.