Demand, prices leads to new drilling companies

(Tulsa-AP) -- The rising demand for natural gas and forecasts for higher-than-normal gas prices are leading to new drilling companies. <br><br>Once-dormant Cactus Drilling of Tulsa now operates six drilling

Thursday, December 14th 2000, 12:00 am

By: News On 6

(Tulsa-AP) -- The rising demand for natural gas and forecasts for higher-than-normal gas prices are leading to new drilling companies.

Once-dormant Cactus Drilling of Tulsa now operates six drilling rigs and is refurbishing several more.

Company Executive Vice President Jim Willis says Cactus hopes to have 20 rigs in operation by the end of next year.

The president of Strata Drilling in Oklahoma City says everybody is contracting for drilling rigs as fast as they can.

Jerry Wilson says the biggest problem now is finding oilfield workers. He says thousands were laid off two years ago when gas and oil prices fell.

He says most are not willing to return to oilfields until they see more stability in the industry.