On Apr 6, 9:01=A0pm, ausound <auso...@[EMAIL PROTECTED]
> wrote:
> 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)
<=3D=3D=3D=3D
> Net Borrowings .......0..........0...........0.........0...
<=3D=3D=3D=3D
> 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.
> --------------------
>
> 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.
> -----------
> 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
Ausound... outstanding posting... best in class! Grey wolf's earnings
of .79 in '07, estimated to be .55 to .61 in '08... versus this land
driller, i'd think that future growth in drillers would be with
offshore, such as with RIG.
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