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

To: SliderOnTheBlack who wrote (24038)	6/14/1998 12:04:00 AM
From: Douglas V. Fant	Respond to of 95453

Slider, I've been watching PTEN. They're drilling a well for a friend of mine soon on his property and taking a 50% back-in. Yes, dayrates are set by what basin you work in, available competition, and conditions for drilling the well. So oil or gas does not make a big difference..... in fact I should mention that onshore drillers often skip a portion of their compensation and instead drill a well "free" for the owner- in return for a percentage interest in the well. So there's a little "wildcard" in onshore drillers' profits..... Sincerely, Doug F.