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Parker Drilling Co. Message Board

  • mfe1740 mfe1740 Jun 3, 1999 10:29 AM Flag

    Strength in Oils

    CNBC this morning, Maria
    Bartiroma
    said:


    Goldman Sachs initiates coverage of the oil services
    group with an overweight position.

    HAL and SLB
    singled out.



    --------------------------------------------------------

    Appears fto be overall strrength in the drillers and
    services sector this AM. PKD already up 1/4 today.

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    • $600m oil well to test Caspian potential - The
      world's most sensitive well
      Financial Times, June
      3
      By Robert Corzine in Almaty

      Drilling at the
      world's most politically sensitive oil well will
      start
      in the next few weeks.

      The $600m investment
      in an exploratory well at the Kashagan
      field in
      the northern Caspian Sea is the biggest commitment
      for
      decades to a single well. Nine of the world's leading oil
      companies,
      including Royal Dutch-Shell and BP Amoco, are
      involved.

      The drilling, which is starting a year late, will
      answer
      questions about the viability of the region as a major
      oil
      producer and exporter.

      The Offshore Kazakhstan
      International Operating
      Company (OKIOC), the consortium
      overseeing the
      project, has based its commitment and
      expenditure on
      seismic evidence suggesting it is one of
      the world's last
      great undiscovered
      oilfields.

      The Kashagan structure, which lies more than
      14,000ft
      below the shallow waters of the remote
      northern
      Caspian, is three times the size of nearby Tengiz.
      That
      field, operated by Chevron of the US, is the largest
      oil
      reservoir discovered in the past 25 years and
      contains
      about 6bn barrels of recoverable reserves. A 1bn
      barrel
      oilfield is now considered to be a major world class
      find.

      Kashagan's seismic profile is similar to that of
      Tengiz,
      but consortium officials at their headquarters in
      Atyrau,
      the provincial capital on the Ural River, say there
      is only
      a 20 per cent chance of a discovery. "It
      will probably be
      nothing or a very big find," says
      Paul Jeffery, operations
      manager for the
      project.

      The consortium already has 40 experts in The
      Hague
      working on possible development options,
      suggesting
      optimism among shareholders, which also include
      Mobil
      of the US, Total of France, Agip of Italy, BG of the
      UK,
      Statoil of Norway, Philips of the US, and Impex
      of
      Japan. Last year the latter two companies paid
      the
      Kazakh government $500m for a combined
      one-seventh
      share in the project.

      According to Mike
      Simmons(BIG DOG) on SI, PKD is drilling the well.

      • 1 Reply to cwalser
      • The article you posted on the Caspian Basin
        potential I found to be very interesting and pertinent to
        PKD. While I have been following this thread for a
        couple of months and have a minor position in this
        company I have rarely seen any reference made to PKD's
        role in the Caspian. While the cover of the 1998
        annual report is titled "Fishing The Caspian". Five
        years ago PKD assumed the role as the first western
        drilling contractor in the Caspian Basin, which is deemed
        to be one of the last real frontiers in the search
        for energy and quite possibly some of the world's
        largest deposits of oil and natural gas. While currently
        Parker may be suffering financially from the woes of the
        oil sector and to a small degree management
        difficulties their pioneering efforts in the Caspian Basin are
        to be admired. The technical, logistical, financial
        and political implications involved in this endeavor
        are incomprehensible to a layman such as myself. As
        mentioned in the article you posted it talks about PKD's
        association in the Tengiz Field of Kazakhstan and their
        involvement with many major players (big oil) who are
        involved in this project. In the Tengiz field they are
        primarily involved with Chevron and its Tengizchevroil
        partners, also mentioned was the -OKIOC-. Parker is
        providing the world's largest posted barge rig for the
        consortium's historical entry into Caspian waters. It states
        that industry observers will be closely watching this
        first-of-a-kind offshore drilling project. The area with possibly
        the largest reserves is Kazahstan, and that's where
        Parker has established its regional base. A first of its
        kind artic-class barge rig is expected to begin
        operations in early summer. Parker has led other western
        drillers in establishing operations and improving
        logistics management in the Caspian Basin. Long-term
        potential in this region could be enormous. With sustained
        crude prices and success in this region Parker could
        emerge as true leader as well as a sought after and
        pivotal driller. I am certain many believe Parker to be
        way out of there league on this one as they
        traditionally have been a land based driller. It's obviously
        risky but as a driller their going to be compensated
        for their efforts dry hole or not. No balls no glory.
        Which should ultimately lead to a healthy bottom line
        that would benefit all. I personally wish them success
        and look forward to seeing the results. There seems
        to be a great deal of concern over the number of
        "coldstacked" rigs, primarily domestics, rusting away right now
        but I think the ultimate savior
        could possibly be
        the Caspian operations. While I am a Hoosier I'm
        betting on the Okies in the long haul. I have inserted a
        hyperlink to Alexander's Oil & Gas with a couple of
        interesting articles. However, when you open the website it
        does not present the specific articles. You have to
        look under speeches and the on the left side hilight
        the pertinent articles. A newly added one titled -
        Caspian Oil & Gas : Shedding Illusions by Prof. Thomas
        Waelde is insightful and then a little lower on the list
        is on titled - The Legal Status of the Caspian Sea :
        A Card in the new 'Great Game'.

    • Sorry. ADAP is not on my historical CD ROM. If it is a BB stock, it won't be in my data base. ezgreen.

    • It changed symbol from cmic (nazdac) one month ago.Thanks in advance

    • CMIC on my historicl database is good only thru 4-01-99. I won't get ADAP until my next CDROM update. Sorry. ezgreen.

    • EZ....we bottom out at 3.00, and now moving up
      again towards target of 6.00 by the middle of August,
      or maybe sooner. Thank you for your fine articles
      and contributions to the message board of PKD.
      The
      Buck-A-Gallon-gas,
      the quarter HotDog,
      the 19 cent
      Hamburger,
      the dime candy bar, and
      the 7% APR mortgage

      have all gone to Wally World.

    • The post is interesting reading. See url
      below.

      Apparently he really is shorting NBR, I thought he was
      joking with EZGreen. He's tickling the dragon's tail,
      imho.

      http://messages.yahoo.com/bbs?action=m&board=7083133&tid=nbr&sid=7083133&mid=168
      6

    • Blue Duck ....thanks for the advise on lithium,
      just in case when ahead and order some Viagra
      for your sharp tongue, he he he.
      Best regards.

    • the Parker boys would post some good news.... anything, like success on a recent fishing trip or maybe a really exciting bowel movement.

    • firmly up Parkers ass again. Its starting to make a perfect fit.
      I hate this fucking company.

    • I dont understand the point you're trying to make
      about viagra. what do you mean,"when ahead"? Also your
      prediction of PKD being at 6 in 30 days is highly
      improbable. Unless the viagra you're talking about is spoon
      fed to PKD. If it does get there I owe you all the
      lithium and viagra you can use. he he
      good luck to
      all of us. the kid.....

    • View More Messages
 
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