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

To: Richard D who wrote (26448)	7/24/1998 6:40:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Richard D, Just came in off of a frac job in west Texas. Talked to my field worker friends at Halliburton today who did the frac job. They said yes, that business is definitely slowing down. On the up side, they told me something similar to what the two onshore drillers reps told me yesterday, that the drilling companies (and Halliburton) are simply stacking their extra equipment in their yards, and are not selling that equipment to "mom and pop" operations. So the turndown will not likely breed a "new wave" of competition in North America when business conditions turn up, but instead may result in the service/drilling companies becoming ever more concentrated FWIW.... Sincerely, Doug F.