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

To: Lucretius who wrote (18671)	4/9/1998 10:48:00 PM
From: Teddy	Respond to of 95453

NEWS snips from Offshore Data: Teddy's note: Most of todays news was the same stuff we hear everyday. I can't take it anymore. I just picked the worst two. It doesn't matter any more. We're going down. MISSISSIPPI: TDI-Halter, Gulfport, Miss., signed contracts to construct two Megathyst design semis for Petrodrill Construction Inc., a joint venture of Maritimas, Pride International, and Workships Contractors. The semis have long-term charters with Brazil's Petrobras and will be capable of drilling in 5,000 feet waters. The overall length of each rig's two pontoons will be 249 feet and the height from the baseline to the platform deck will be approximately 85 feet. Each rig will have about 3,500 tons of variable load capacity. These are the first new semisubmersibles to be built in the United States in over 15 years. The rigs will be delivered in the fourth quarter of 1999 and the first quarter of 2000. Maritimas, Workships and Pride International earlier placed contracts for four Megathyst Class semis. Two are on order with an option with Davie Shipbuilding in Quebec, and two will be built at Daewoo Shipbuilding & Heavy Industries in Opko, South Korea. Each semi will cost an estimated $170 million. Delivery dates stretch from December 1999 to July 2000. Just what we need: more semis to put more pressure on Dayrates. Don't these companies realize that oil prices have dropped so drilling has stop? PAKISTAN: Western Geophysical completed the acquisition of a 3,410-mile multiclient seismic survey offshore Pakistan. The survey, carried out by the 2-D seismic vessel M/V WESTERN WAVE, covers open acreage in water depths ranging from 2,887 feet to 9,843 feet. The survey covered the Makran Basin, which lies south of the Pasni South and Pasni East licenses, and west of the Indus-A and 2365-1 licenses. Processed data should be available during the second quarter. Interest in acreage offshore Pakistan increased since oil and gas companies acquired exploration licenses last year. Oil and gas companies recorded positive indications of hydrocarbon play in this region during the 1970s. Dream on. No one is interested in this or any other acreage: there's way to much oil now and it gets worst everyday. And don't even talk to me about gas prices IN OBSERVANCE OF THE GOOD FRIDAY HOLIDAY, TODAY'S NEWS WILL NOT BE PUBLISHED APRIL 11. THE NEXT DELIVERY WILL BE APRIL 14.

To: Lucretius who wrote (18671)	4/9/1998 11:05:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

Oh, i forgot this one: TEXAS: Operators placed high bids totaling $34.7 million on 186 tracts in Texas' 1998 Spring Lease Sale. The high bid total makes the lease sale the state's largest since 1976 and the third largest in state history. The sale also posted the highest ever bonus per acre at $450.72. Most of the activity was on state tracts in the Gulf of Mexico. Eighty of the 186 tracts receiving bids are in the Gulf of Mexico. Cockrell Oil & Gas placed the sale's highest bid, a $1.6 million offer for a tract offshore Kleberg County. In all, seven bids over $1 million were placed in the sale. All of the million-dollar bids were on Gulf tracts. What a waist of money. Don't they know that oil and gas are almost worthless? Well, it least it won't cost them must to drill, dates dropped 20% today.