Strong DrillingPeak Energy Services reported 3rd Q and 9 month results today. Just a few quotes from their NR that should relate to Wenzel 3rd Q results:
"Consistent with the second quarter, strong hydrocarbon prices continued to act as the catalyst for higher drilling activity during the third quarter of 2003. Drilling activity remained strong throughout the summer, with rig operating days increasing by 56% for the third quarter of 2003 and on a year to date basis the rig operating days increased by 36%."
"In summary, strong utilization, improved pricing and new product lines in the Drilling Services division continue to be the primary reasons for the Company's record revenue performance during the quarter relative to the activity levels within the industry."
With all this drilling going on, how can this not relate to a good 3rd Q for WZL and 4th Q? We should find out in a week or two, based on previous years earnings announcements.
GLTA
Cheers,
Oxyurid