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

To: 007 who wrote (23368)	6/3/1998 9:50:00 PM
From: Gator II	Respond to of 95453

Since Parker Drilling bought Hercules Offshore and Mallard, I wouldn't consider them strictly a land based driller any more. Even Quail specializes in renting tools to the offshore boys. Several weeks ago, Big Dog suggested they were a sleeper and definitely were looking to buy rigs and expand offshore. GatorII

To: 007 who wrote (23368)	6/3/1998 9:56:00 PM
From: Chas	Respond to of 95453

I agree. We may have to wait a while for the turn. However, this hot weather may be a factor. We don't see weather like this until July and August, and it has been like this for a month. We had the lowest amount of rain here since 1898. If it stays like this all summer, the electrical energy demand should set a record (at least locally). The cheap gasoline should provoke a heavy summer driving season. A lot of the shallow water/land drillers go for natural gas. I don't follow the natural gas price per mcf but the last time I looked it was $2 plus (may have changed now). The land drillers may pick up sooner than we think. I am trying to maintain my perspective on the oil patch in an irrational market. It is hard to be bearish when you are in the middle of all this local activity. By the way, an E&P engineer friend of mine from a major (CHV) is invested in GLBL. He likes the fact that they also get the work dismantling platforms/rigs as well as new construction. Come on OPEC...just talking about cuts will give us a lift. We could use one now to make everyone feel better (g). Good Luck, Chas