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

To: RGinPG who wrote (14235)	3/9/1998 6:33:00 PM
From: waverider	Respond to of 95453

Ron, correct me if I'm wrong, but I don't see that. It looks to me that OSX has been on a steady rise while oil has too, albeit a might more jumpy. Diamond H

To: RGinPG who wrote (14235)	3/9/1998 9:48:00 PM
From: GlobalMarine	Respond to of 95453

What has made the oil-services sector really out perform oil prices these past years is technology: with 3D & 4D seismic technology, directional and steerable drilling and other sorts of innovations, it costs much less to find a bbl of proven oil reserves than it did 10 years ago. However, that doesn't mean that the sector is immune to low energy prices. It just means that energy prices can be somewhat lower now than in the past without adversely affecting e & p budgets. That we have had low interest rates these past few years has also been helpful in justifying project economics.