Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: iandiareii who wrote (20878)	4/30/1998 1:38:00 PM
From: pz	Read Replies (2) \| Respond to of 95453

Finally someone had the guts to say what we all knew, that the land drillers business currently stinks. >>>Patterson sees rig demand staying weak<<< PZ

To: iandiareii who wrote (20878)	4/30/1998 1:40:00 PM
From: RGinPG	Read Replies (1) \| Respond to of 95453

Patterson<PTEN.O>sees rig demand staying weak SNYDER, Texas, April 30 (Reuters) - Patterson Energy Inc. Thursday predicted weak demand for drilling rigs will persist until oil and other commodity prices rebound. Cloyce Talbott, company chairman, said demand for rigs began to sag in December and "the situation is not expected to improve without an improvement in the commodity prices. Patterson, based in Snyder, Texas, provides land-based drilling services to independent oil and natural gas companies. The company said it owns 114 rigs, of which 108 are operable. ((New York Newsdesk, 212 859-1700)) REUTERS Copyright REUTER 10:58 04-30-98 The bad news is out.... time to buy.