There is likely to be a drill pipe shortage in the next 1824 months. And the drill pipe situation is just an example of what is likely to happen to other equipment items if industry activity continues to show growth. That's the view of Gary D. Nicholson, president of LTV Energy Products Co., Garland, Tex. Oil field equipment manufacturers have "decapitalized" by 75-80% since the early 1980's, leaving capacity at only about one fourth of the peak at that time. "There will be tremendous pent up demand for drill pipe in the next 24 months," says Nicholson. Although there is sufficie...

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