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

To: Shelia Jones who wrote (18726)	4/10/1998 7:22:00 PM
From: waverider	Read Replies (1) \| Respond to of 95453

>>"Third, while day rates for the high-end jack-up rigs are softening, we believe that day rates for the shallow rigs will continue to increase slightly. This is a function of cost/value tradeoff. In the shallower waters of the GOM where rig demand remains strong, oil companies will be less willing to pay higher rates for relatively small incremental value of a high-end jack-up rig<< What I'm getting out of this is that they are not interested in paying higher-end rig rates to drill in the shallow GOM waters since lower-end rigs will do the same for less. This is of course according to the English language which is constantly being abused by financial types.