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Parker Drilling Co. Message Board

  • NAR_671 NAR_671 Jun 13, 2000 2:07 PM Flag

    OIL,CRK,GW mentioned

    Can't remember any more. But check GW and CRK and
    Oil for posters. Oil hit a nice well or wells off
    Guinea.

    Going to be long cycle on oil and ngas 5-10 years
    mentioned to reduce tightness in energy!

    Just love
    the energy sector! Little risk on big drop in energy
    possible. Never had a high tech stocks either or internet
    stocks. Dollar Cost Averaged long time ago LOW and won't
    sell any energy stocks for long time. Percentage wise
    doing O.K. Just 5000 PKD and 55000 shares around other
    energy and service company's. ome doing better then
    others. But all will rise decently as time goes
    on!

    George

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • has been in place for awhile in America: No
      finacial gain, no drilling. With oil at depressed prices
      back in the early eighties, then again in the last
      debacle of a few years ago ($10 per barrell), much was
      lost from the oil patch in terms of equipment left to
      rust, manpower (skill) loss. It's always been boom or
      bust in the oil patch, but reliance on foreign oil is
      a crutch used when our own oilfield work is not
      economically enticing. Rigs now are coming back on track,
      majors are expanding their drilling budgets: hence the
      upswing in the drillers, but it would take a long while
      for the infrastructure to be fully vibrant again. The
      only relief, polictically, might be an admninistration
      willing to expand the drilling opportunites here on
      American soil and offshore. But eventually the oncoming
      supply would re-stabilize the prices downward, starting
      the cycle all over again. IMO

    • hi newman,

      If I've got it right,
      roundtable featured Fadel Gheit (of Fahnestock) and Jerry
      Catelini....

      Gheit was as bullish as I've ever seen him - referring
      to this as the best of all possible worlds - and the
      energy sector "firing on all cylinders."

      He also
      opined that OPEC was naturally "dragging their feet" -
      not in a hurry to raise production - and then too
      there was the (unanswered) question of just how much
      excess capacity can be brought on line.... (They had a
      Merrill Lynch trader on earlier - saying that, I
      think)

      Also, among stocks mentioned, both liked Phillips....
      (other than that, Gheit is still with the exploration
      companies & Catellini more with the oil service
      plays)

      There should be a CNBC write up on this at their web
      site....

      hope this helps a bit

 
PKD
6.28+0.06(+0.96%)Aug 29 4:01 PMEDT

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