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

To: Lucretius who wrote (17384)	3/31/1998 11:04:00 PM
From: Timelord	Respond to of 95453

LT: From Grey Woof's YE 10K filed yesterday (3/30) The Company believes that approximately 85% of the wells it drilled in 1997 were principally targeted by its customers for production of natural gas rather than crude oil. Is GW out of favor primarily because everyone is nervous about their heavy debt load? They appear to have focused their business on gas. Even though their utilization is dropping, I assume this is hitting everyone: The Company's 1997 average rig utilization rate for these four core markets was approximately 96%. In the first quarter of 1998, however, this average rig utilization rate was approximately 80%. This lower average utilization rate is believed by the Company to be due to an overall weakening of demand it its core markets for land drilling services and, to a lesser extent, delays caused by inclement weather. Your words of wisdom on GW? Alex