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


To: Paul Angell who wrote (28633)8/31/1998 6:15:00 PM
From: Mike from La.  Respond to of 95453
 
Paul,
According to this weekend's New Orleans newspaper, although deepwater is expensive, the cost are coming down enough that independents are bidding on deepwater tracts. The production levels are so high that they are considered to be low cost wells. The companies bidding on the last auction said that they were concentrating their efforts on deepwater because it was the best chance for low cost oil.

Mike from La.