southacres: that's a very interesting article on the oil service group. Clearly Q3 earnings will be very strong and gas prices are understated when looking at the spot market .... gas companies can easily lock in $7+ prices through all of 2007 by selling futures.
Nonetheless, the drop in prices may have further to go, barring a major late season hurricane hit on the Gulf, or a frigid winter .... some reduction in drilling activity is inevitable, imho.
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