Oil and Gas Investor Magazine - May 2009
Feature
Costless Collar?
?Costless collars are bad for most independent E&Ps, and they aren’t really costless. Here’s why.
Debt Wars
Aggressive use of high-yield debt during a period of high oil prices spelled disaster for many E&Ps when prices collapsed in 1998. Has a similar situation set up for 2009?
Encore Performance
Encore Acquisition Co. president and chief executive Jonny Brumley explains the upside the company is looking forward to in 2009 and how being oily has paid off.
Fraud Detection
?Low commodity prices have severely constrained many oil and gas producers’ cash flow and cash on hand. It is increasingly important to guard against skimming, overcharges and other runs on the till.
Good Hunting
?Owned by heirs of the late oilman H.L. Hunt, Hunt Petroleum Corp. was a conservative E&P brimming with untapped upside in East Texas and Louisiana when it came to sale. XTO Energy Inc. didn’t let the opportunity pass.
I-Bankers Wait
?Last summer, investment bankers saw market-makers and resource players in their waiting rooms. Today, bankers are the ones waiting—for a pick-up in M&A activity.
A&D Trends
Regional Spotlight: Appalachian Basin
?Drilling success and positive economics boost acreage costs in the Appalachian Basin’s Marcellus shale.
At Closing
Changing Of The Guard
?High-profile executive retirements may represent an E&P changing of the guard.
Bright Spots
Meet Joshua Batchelor
?Quantum Energy Partners’ Joshua Batchelor is active in new investments.
Capital Markets
The Commodity Investor Survey
?Investors eye the fundamentals of individual commodities in seeking outperformers.
Company Briefs
Completions
Unconventional Gas Rush
?Interest in unconventional gas plays remains unabated in this depressed commodity-price regime.
E&P Momentum
Going For It In The Gulf
?Energy XXI balances out its conservative strategy with deep and ultradeep wildcat prospects.
From the Editor-in-Chief
Spam And Beans
?Pork 'n beans, Spam and ramen noodles are probably on the menu for the rest of this year.
Gulf Coast
International Highlights
Legends
Chatting With Clayton Williams
?Clayton Williams Jr. is still wildcatting after more than 50 years.