GW
P/E (ttm): 8.95
PERIOD ENDING ....31-Dec-07. 30-Sep-07 .30-Jun-07 .31-Mar-07
Retained Earnings .367,007 .. 332,989 .. 297,401 .. 255,693 <--
Total Revenue .....213,045 .. 223,999 .. 227,520 .. 242,013
Sale (Buy) Stock .(33,938).. (10,464) .....2,560 . (11,270) <====
Net Borrowings .......0..........0...........0.........0... <====
Qtrly Revenue Growth (yoy): -11.40% <---bzzzt
Qtrly Earnings Growth (yoy): -35.20% <-----bzzzzt
Total Debt (mrq): 275.00M <----30% of revenue...too high
Short % of Float (as of 11-Mar-08): 17.80% <---motivated buyers
http://stockcharts.com/charts/gallery.html?GW
holders might think about selling: retest of sup****t for sure $6 and
perhaps $5
Grey Wolf, Inc., through its subsidiaries, provides onshore contract
drilling services to the oil and natural gas industry in the United
States. It primarily operates in the Ark-La-Tex, the Gulf Coast,
Mississippi/Alabama, south Texas, Rocky Mountain, and the Mid-Continent
drilling markets. The company serves independent producers, and oil and
natural gas companies. As of February 18, 2008, it operated a fleet of
121 land rigs. The company was founded in 1978 and is based in Houston,
Texas.
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from the 10k annual re****t;
As a result of newly-built and refurbished rigs that have come to market,
there is currently some excess capacity of land drilling rigs. Since the
latter part of 2006, we and some of our competitors have experienced some
rigs becoming idle because of this excess rig capacity. Spot market
dayrates have weakened in connection with the excess supply of land
drilling rigs with the most competitive pressure being on smaller
horsepower mechanical rigs. Since the third quarter of 2007, we have
experienced moderate pressure on spot market dayrates for larger
horsepower rigs as well. In addition, we have had to make concessions in
contractual terms relating to amounts we seek to charge customers for
"mobilization," which is when we move our rig to the customer's location.
While we have a number of existing term contracts at fixed dayrates that
have partially buffered our exposure to the continued erosion in spot
market dayrates and the effects of extra capacity, we expect to continue
to experience reductions in our overall dayrates in 2008 as some of our
spot and term contracts come up for renewal at lower rates.
In the first quarter of 2007, we signed three-year term contracts with a
major oilfield services company for two of our rigs to go to work in
Mexico. This decision was made because it enabled us to enter into
additional term contracts that provided us better returns than were
otherwise available in our domestic markets at the time. These two rigs
began operations in Mexico in the third quarter of 2007.
The decrease in accounts receivable is due to lower revenue resulting
from an overall decrease in contracted rates during 2007 as well as fewer
rigs working.
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note: this stock was culled from a 2005 stock search
HOWEVER: Mikey gets gets full and unequivical credit for the stock
symbol's recognition in mis, the usenet and the world
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