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

To: mph who wrote (21837)	5/11/1998 7:55:00 PM
From: iandiareii	Respond to of 95453

FWIW, the familiar good "news": Monday May 11, 7:07 pm Eastern Time Low oil price barely impacts offshore rig rates By Andrew Kelly HOUSTON, May 11 (Reuters) - The long slide in crude oil prices since last fall has had little impact on dayrates for offshore drilling rigs operating in the Gulf of Mexico which so far have remained well above their levels of a year ago. Houston-based Offshore Data Services said the latest numbers showed cuts in some oil companies' exploration budgets had led to a modest decline in rates for just one segment of the market. ''That impact on budgets has finally trickled into the rigs market...but the only place that it's become readily apparent is among the more expensive jackup rigs,'' said Tom Marsh of ODS. More: biz.yahoo.com