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

To: Douglas V. Fant who wrote (24444)	6/20/1998 10:32:00 AM
From: Sunny	Respond to of 95453

Doug, Gas will be the salvation of the US oil field service business. If you look at the weekly BHI rig counts the percentage of active drilling rigs drilling for gas is increasing. this may temper how deep the the levels fall. Have you noticed that most of the major driller and service companies with the exception of Camco are trading near their 52 week lows? How much lower do you think they will go? I heard that this is the first quarter in the last several years that Hughes Christensen missed their forecast. Looking at their INTEQ units land based activity they will continue to have problems. Halliburton's Houston horizontal business is at the lowest level in recent memory. We are still searching for new places we can rent value added drilling equipment and finding some, so all is not lost. Hibernia and Sable island are interesting new plays. I read an article calling them the next North Sea. Not yet anyway, but we will watch with great interest. See ya in July. sunny