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

To: drsvelte who wrote (19614)	4/19/1998 8:30:00 PM
From: Lazlo Pierce	Respond to of 95453

Some kind words on BDI in thestreet.com this weekend. ***************************** Sunday's Little Letters: Bayard Drilling Technologies, Wal-Mart, i2 Technologies and Ingram Micro By David Landis Special to TheStreet.com 4/19/98 12:15 AM ET A selection of some of the most intriguing stock newsletter suggestions on the Web. The items presented do not represent the views of TheStreet.com; rather, the collection is offered as a service to our members who may be scanning the Web for stock-related information. Are there other analysts or stock-ideas sites you'd like us to include in Sunday's Little Letters? Send suggestions along with a URL (please, free sites only) to dlandis@erols.com. Bayard Drilling Technologies Eric Green (4/14) Bayard Drilling Technologies (BDI:AMEX) traded as high as 28 1/4 after it was spun off from Chesapeake Energy (CHK:NYSE) last November. Bayard's stock price has slipped by almost half since then as oil prices weakened. The company drills mainly for natural gas, though, and gas prices aren't as weak. Another important price to keep an eye on is the day rate for a drilling rig, says Penn Capital Management's Eric Green. A few years ago, the average day rate was $4,000. Today it's $9,000 and headed toward $15,000 as older rigs are retired and supply dwindles. "The industry will not build another rig until dayrates are at least $15,000," he says. Green calls Bayard's shares "beaten down," and believes they can reach their old high of 28 if the company isn't acquired. Green foresees consolidation to two or three major land-based drillers, from six today. He names Nabors Industries (NBR:AMEX) and Grey Wolf (GW:AMEX) as possible suitors. More information can be found at: techstocks.com