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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 (24715)	6/26/1998 11:52:00 AM
From: Brad Baker	Read Replies (1) \| Respond to of 95453

Have you seen or know of any data in respect to stripper well production that has been shut-in during the past couple of months. I have read that production from marginal wells accounts for approximately 1,000,000 barrels per day of U.S. production. I also know that at a well head price of between $10-$12 many of these wells are not profitable. Also it would be interesting to know how much E&P work has shifted from oil to natural gas due to the fact NG prices have remained exceptionally strong all year. In addition many companies have reduced their E&P budgets since February. Are these developments going to result in reduced production in the U.S., Canada and other Non-OPEC producing countries in the second half of 1998? Have you seen any oil analyst factor these assumptions into their crude forecasts going forward?.