Raymond James says

[setliff]

MARKET TALK: Raymond James Wary On Oil-Services, Cheaper WTI 04/16 10:09 AM

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11:09 (Dow Jones) Next year could see lower prices for West Texas crude because of "significantly rising" US production and "weaker global oil demand growth," Raymond James says. The firm expects oil-services companies to have 10% fewer rigs operating next year than currently, and lowers its opinion on the group; downgrades 16 companies, including Weatherford (WFT), Nabors (NBR) and Pioneer Drilling (PDC:$7.75,00$-0.30,00-3.73%) , cutting EPS outlook for the group an average 23%. RJ likes oil companies abroad -- the production rise will result in a glut of WTI, not Brent, firm says, raising London-based Ensco (ESV) to strong buy from outperform. (alexandra.scaggs@dowjones.com)

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seems to be some inconsistancy here----downgrades nabors, but likes oil abroad??

[bearcatbob]

Dan, I would appreciate your comments as to any need to update your projections for the drillers spread sheet.

Bob

[dan_s]

When I see the E&P companies cutting their capital budgets I will start to adjust the drillers. Right now the rig count remains high and we are not going to see much of a Spring Break-up this year.

Let's wait until we see oil dip below $100/bbl before we write off the drillers. Believe me, they are going to have a solid year.