April 10, 2007
ASSET PRICES
Oil and gas prices have softened in the past 12 months, but asset prices have had no fear. In most U.S. regions, the metrics asset buyers will write checks upon have grown, instead, as new
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March 20, 2007:
CREDIT QUALITY oftening commodity prices expose oil and gas producers to new enterprise values—and debt profiles. An onshore gas producer 60% weighted to debt at $9 gas could easily become 80% debt-heavy ...more
February 14, 2007:
THE PLAYER ConocoPhillips’ 2007 has begun with unwanted attention—to its 2006 organic reserves-replacement rate and earnings, and its exposure to Venezuela. John Herrlin, an E&P analyst with Merrill Lynch, calculates that the ...more
January 16, 2007:
MERGE OR DE-MERGE The giant mergers may resume in 2007, according to one veteran upstream analyst. Another says de-merging may be a smarter move for some producers. While publicly held E&P companies’ mantra ...more
December 7, 2006:
Oh Canada The era of the dominance of the Canadian energy trusts is drawing to a close just as a similar E&P regime in the U.S. gets under way. The Canadian government ...more
November 6, 2006:
IT’S IN THE DOUGH Oil and gas executives are making hay while the sun shines—and long after sunset and on weekends too. It is surprising the number of senior E&P and service-company executives, financiers ...more
October 3, 2006:
Strange-Mance Free markets correct themselves, usually too quickly for an amateur to participate and, thankfully, too fast for government to interfere. Even when slow about it, markets do always right themselves ...more
September 12, 2006:
Blackbeard Newfield Exploration Co.’s news at press time that its $180-million Blackbeard West #1 is a no-go for now has rattled the drafting tables in some shallow-Gulf of Mexico geoscientists’ offices ...more
August 1, 2006:
Hit or stand Is the run-up in energy stock prices nearing the end of the deck? Or is it an eight-deck shoe? Upstream stock prices have been front-loaded with blackjacks for sellers. Are ...more
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