Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Anyone following UTI Energy Corp.? -- Ignore unavailable to you. Want to Upgrade?

To: Frank Drebin who wrote (298)	3/5/1998 2:36:00 PM
From: Lost1	Read Replies (1) \| Respond to of 1305

"The trouble with TRIBBLES"

To: Frank Drebin who wrote (298)	3/5/1998 11:25:00 PM
From: Captain James T. Kirk	Read Replies (1) \| Respond to of 1305

There is no written source at this time, however there is a web site that is working on the story. I shall get the address. I suspect CNBC will be on this one soon.

To: Frank Drebin who wrote (298)	3/12/1998 2:06:00 PM
From: Dennis J Ford	Read Replies (1) \| Respond to of 1305

COMPANY DATA: COMPANY CONFORMED NAME: UTI ENERGY CORP FORM TYPE: 10-K ------------------- PART I. ITEM 1. BUSINESS INTRODUCTION The Company is a leading provider of contract drilling services in the United States. Drilling operations currently are concentrated in the prolific oil and natural gas producing basins of Oklahoma and Texas. The Company's rig fleet consists of 74 land drilling rigs with effective depth capabilities ranging from 5,000 to 25,000 feet. The Company also provides drilling and pressure pumping services in the Appalachian Basin. Beginning in 1995, the Company made a strategic decision to focus its efforts on the expansion of its land drilling operations to take advantage of improving market conditions and the benefits arising from a consolidation in the land drilling industry. To effect this strategy, the Company disposed of its oil field distribution business in September 1995 and immediately embarked on a directed acquisition program aimed at expanding the Company's presence in the oil and gas producing regions in the United States. The Company's acquisition strategy is focused both on existing drilling contractors with established reputations and on underutilized assets that can be assimilated into the Company's existing operations. The Company has sought acquisitions that would provide it with access to new markets, established regional bases of operation, operational leverage through additional capacity, and a well-trained work force. Since commencing its growth strategy, the Company has more than doubled the size of its rig fleet and has expanded both its drilling depth capabilities and the geographic scope of its operations. The Company considers that its operating leverage, its large inventory of low cost drill pipe and spare equipment and its diversified and decentralized regional drilling operations are significant competitive advantages. For your information: Dennis