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

To: ldo79 who wrote (24575)	6/23/1998 2:17:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

The TCMS conference call today perhaps offered some clues to the CXIPY weakness. They said that there were delays in pipeline construction projects in the Gulf. Eventually, you need pipeline hookups to bring offshore production to market. While long-term estimates are for about $7 billion in pipeline construction with 90% of that off the Louisiana coast, some of the larger projects were seeing delays. This would presumably impact CXIPY. BTW, TCMS pointed out that all the pipelines from the deep and shelf projects have to come through the shallow transition zone where their pipeline construction is focused. While they expect maybe 2 or 3 large trunklines to be constructed annually, delays in the actual construction of them were a major reason for their reduced estimates.