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Gold/Mining/Energy : Anyone following UTI Energy Corp.? -- Ignore unavailable to you. Want to Upgrade?


To: Captain James T. Kirk who wrote (809)6/12/1998 1:51:00 AM
From: William Nelson  Read Replies (1) | Respond to of 1305
 
Is anyone building new land rigs now?
One of the bull arguments I heard is basically
that rigs have been built at a very low rate
for a long time. I heard actually that current
rates aren't high enough yet to justify building new
rigs, hence the strategy of acquisition. I don't know
what a rig costs but it looks like you can pull
in say 7200*.60*365=$1.5M per year from one.