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Rowan Companies plc Message Board

  • profit_hunter profit_hunter Jun 15, 1999 11:49 AM Flag

    5141 post at RIG good 4 Driller Sector

    Interesting article from poster on drillers!

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    • Consolidated Natural Gas and now Coastal Group
      increase their Capital Expenditure Budgets for the year. I
      find it very curious that two of the pipeline
      companies that have the clearest vision for future demand
      for natural gas delivery are the first to increase
      their level of activity in 1999. IMHO, we underdrilled
      for new natural gas wells in North America. Geo

    • <EOM>

    • Coastal Group announced today that they were increasing their E and P budget for this year to $880 million from $590 million, things are turning around faster than everyone thinks.

    • I went back and checked on offshore Brazil. 9 of
      the 27 blocks are in water rated 0 - 200 meters. What
      they mean by "0" for water depth, i'm not sure, but at
      face value, 1/3 of the prospects are within Rowan's
      range, with the gas prospects all in shallow water and
      most oil plays in deeper offshore. These blocks are a
      little bigger than normal, averaging around 7,000 sq km

    • interesting.

    • You don't have to lengthen the legs that much to land a helo on it do you? And the Amazon license areas include onshore, shelf and deep water where a significant natural gas play is suspected.

    • Rowan might have to lengthen the legs a few thousand feet to be able to drill off Brazil. Brazil is not really considered a jackup market.

    • There is supposed to be enough reserves in the
      Lost Hills fields of Alberta to support the initial
      flow rates of the Alliance pipeline. The huge
      potential lies in the untapped fields of the North West
      Territories, which, up until now, have not had a commercial
      outlet, and could support a expansion of the pipeline
      capacity. At the initial rate of 1.325 bcf per day, this
      will add about 2.2% to the supply based on 1997
      consumption rates, and will only satisfy the increase in
      demand for about a year.

    • The Alliiance Pipeline is a wildcard for natural
      gas delierability. Many in the natural gas business
      wonder if there is sufficent gas reserves per well (at a
      reasonable cost) for this project. If I recall correctly,
      one of the other proposed Canada-US pipelines was
      cancelled for this reason. Good comment though.
      Weatherunderground, please keep our board informed of its progress
      and impact on natural gas delierability. (This
      pipeline project makes some of the land drillers in Canda
      look like they could be a good investment, IMHO) Good
      luck to you. Geospar

    • If shorting your game, go for it. Who knows, if
      you're a short-term investor, maybe Q2/99 earnings will
      drive the price down from here and make it a decent
      play. If so, you missed the easy money a week ago.

      I looked at the insider sales and a lot of it could
      be matched to exercised options. Many insiders get
      stock options as part of their compensation package and
      treat it as such. I was more impressed with Harry
      Boswell's (a Board Director) purchase of 6000 shares on the
      open market for 15 7/8 (April 28, 1999). There are
      many reasons for an insider sale, but only one for an
      insider buy.

      I like the future earnings potential
      of RDC looking ahead to 2000 and 2001. I'm giving
      more weight to that potential than the book value of
      the stock, Good luck to you. Geospar

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20.03Jul 1 4:04 PMEDT