Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Trico Marine Services (TMAR) -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (543)	7/13/1998 11:00:00 AM
From: D.J.Smyth	Read Replies (1) \| Respond to of 1153

20:33 DJS Baker Hughes Says Oil And Gas Rig Count Rose By Seven In Latest W 20:33 DJS Baker Hughes Says Oil And Gas Rig Count Rose By Seven In Latest Week HOUSTON -(Dow Jones)- The number of oil and gas rigs operating nationwide increased by seven to 819 this week, Baker Hughes Inc. said Friday. There were 964 rigs operating in the U.S. during the same week last year. Of the rigs running this week, 551 were exploring for natural gas and 266 for oil. Two were listed as miscellaneous, the Associated Press reported. Houston-based Baker Hughes has kept track of the count since 1940. The tally peaked at 4,500 in December of 1981 during the oil boom. It dropped to a record low of 596 in the summer of 1993. The rig count represents the number of rigs actively exploring for oil and natural gas. Of the major oil- and gas-producing states, New Mexico led gainers with four more rigs. North Dakota and Texas each gained three. Kansas crept up by one. Oklahoma led losers with four fewer rigs. Colorado fell by two. California and Michigan each lost one. Louisiana, Ohio, Pennsylvania and Wyoming were unchanged. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved. (:BHI) 07/10 8:33p CDT

To: Robert T. Quasius who wrote (543)	7/13/1998 12:10:00 PM
From: D.J.Smyth	Respond to of 1153

Enron expects gas supplies to remain "tight" and increase in demand in the second half: 11:02 DJS Enron Oil & Gas 2nd-Quarter Earnings Hurt By Lower Oil Prices 11:02 DJS Enron Oil & Gas 2nd-Quarter Earnings Enron Oil & Gas Co. - Houston 2nd Quar June 30: 1998 1997 Revenue $183,300,000 $171,800,000 Net income 13,300,000 a 24,600,000 Avg shrs 154,900,000 157,500,000 Shr earns Net income .09 a .16 a. Includes tax gain of $9.7 million, or 6 cents a share, from international operations. Enron Oil & Gas Co. (EOG) said lower crude oil prices hurt second-quarter earnings. Operating income in the quarter rose to $32.7 million from $28.6 million a year ago. Enron Oil said natural gas deliveries in the quarter averaged 907 million cubic feet a day compared with 896 million cubic feet a day last year. Deliveries of crude oil, condensate and natural gas liquids averaged 26,000 barrels a day, compared with 20,300 barrels a day a year ago. In Trinidad and India, natural gas volumes rose to 185 million cubic feet a day from 115 million cubic feet a day in the year-ago period. Crude oil and condensate deliveries rose to 7,700 barrels a day from 3,500 barrels a day last year. Enron Oil said overall, natural gas supply remains "tight," and the company expects the market to remain "strong." The company expects North America volumes in the second half of the year to "well exceed" volumes reported in the first half of the year. Enron Oil & Gas said its first well drilled on the U(a) block is "commercially significant" and located near its successful SECC Block development program off the coast of Trinidad. The company said the discovery, the largest exploration discovery in its history, encountered about 400 feet of pay in multiple zones. Based on initial estimates, Enron Oil expects the discovery to contain 600 billion gross cubic feet equivalent to one trillion cubic feet equivalent of primarily natural gas reserves. Enron Oil also expects to continue shifting capital, over time, to international operations. The company is targeting global production growth that should average 10% or more on a compound annual basis through at least 2002. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved. (:ENE) (:EOG) 07/13 11:02a CDT