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

To: diana g who wrote (17420)	4/1/1998 9:17:00 AM
From: Douglas V. Fant	Respond to of 95453

diana G., Yes and no. Any drilling rig/crew will drill for "what's down there". When they say some companies drill for oil, some for gas,that is an indirect way of saying where a Company's rigs are located, whether in predominantly gas or oil provinces. Land-based rigs can be moved more easily than offshore rigs, but the moves generally will only be "in country". But all rigs can move. However do not expecta Company say to move a rig from the GOM to West Africa, unless he/she has a contract. You would not want to undertake the expense and risk to redeploy a rig a long distance without a contract. Now a "short hop" from the GOM to say Venezuela would be different. But again it costs money daily (it's called "demurrage" in the martime business) just to maintain a rig away from its homeport where it can be left generally stacked and unmanned (lower cost) between contracts... Sincerely, Doug F.