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.

Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (17723)	12/8/1998 10:57:00 PM
From: pz	Read Replies (1) \| Respond to of 53068

Chat Oils This gives a pretty good indication of when the industry thinks it will recover. They say the 3rd quarter of '99. So no hurry to get into this sector for a longer term hold. Paul Weatherford sees recovery from Q3 1999 HOUSTON, Dec 8 (Reuters) - Weatherford International Inc chairman Bernard Duroc-Danner said on Tuesday a recent round of downsizing and cost-cutting in the oilfield services industry had set the stage for an earnings recovery in the second half of 1999. ''Just on the cost side, probably around the second quarter, the industry will bottom out and around the third quarter you will see the beginning of a recovery in terms of earnings,'' he told the Arthur Andersen Energy Symposium in Houston. Weatherford and other companies that provide services to oil and gas companies have axed thousands of jobs in recent months in anticipation of reduced exploration spending by oil companies next year as a consequence of weak oil prices. Oilfield service stocks have fallen sharply this year, mirroring the decline in oil prices.