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

To: Fredman who wrote (31949)11/19/1998 5:53:00 PM
From: Douglas V. Fant  Respond to of 95453
 
Fred, I had reported here that my Company would maintain its 1999 capital expenditure budget. Now we look like we'll back off by about 5% from our original projection in our spending....

Sincerely,

Doug F.



To: Fredman who wrote (31949)11/19/1998 5:55:00 PM
From: VLAD  Read Replies (2) | Respond to of 95453
 
FWIW,

Guy on CNBC just spoke positively about the drillers. His opinion was that they are undervaluated regardless of oil prices. He pointed out that the rig fleet has declined dramatically since the mid 80's and has not increased over the past 4 years even when oil prices were high last year.


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