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Industry Report Card: U.S. Oil And Gas Companies Face A Tough Credit Environment Jul 09 Product Image

Industry Report Card: U.S. Oil And Gas Companies Face A Tough Credit Environment Jul 09

  • Published: July 2009
  • Standard & Poors

FEATURED COMPANIES

  • Alon USA Energy Inc.
  • CITGO Petroleum Corp.
  • EXCO Resources Inc.
  • Key Energy Services Inc.
  • Noble Corp.
  • Smith International Inc.
  • MORE

Abstract
Overall credit quality continues to weaken in the U.S. oil and gas sector. The sharp fall in hydrocarbon prices and poor economic conditions have resulted in negative trends across all the subsectors: exploration and production (E&P), refining, and oilfield services. Standard & Poor's Ratings Services has taken several negative rating actions recently, especially on speculative-grade companies (those rated 'BB+' or below), and we expect this trend to continue. Companies with heavy exposure to U.S. natural gas prices face the greatest risks going forward. A key question is when will the industry hit bottom and when will the recovery begin. We are most sanguine on crude oil given that prices have already rebounded sharply from the lows earlier this year. On...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and READ MORE >

- Hess Corp.
- EQT Corp.
- Forest Oil Corp.
- Halliburton Co.
- National Fuel Gas Co.
- Newpark Resources Inc.
- Bristow Group Inc.
- Rowan Cos. Inc.
- Smith International Inc.
- Chevron Corp.
- Sunoco Inc.
- Tesoro Corp.
- Valero Energy Corp.
- Frontier Oil Corp.
- LOCAP LLC
- LOOP LLC
- Apache Corp.
- MDU Resources Group Inc.
- Southwestern Energy Co.
- Hunt Oil Co.
- Anadarko Petroleum Corp.
- Questar Corp.
- Energen Corp.
- Baker Hughes Inc.
- Murphy Oil Corp.
- EOG Resources Inc.
- Noble Corp.
- CITGO Petroleum Corp.
- National Oilwell Varco Inc.
- SEACOR Holdings Inc.
- BJ Services Co.
- XTO Energy Inc.
- Deer Park Refining L.P.
- Chesapeake Energy Corp.
- Petroleos Mexicanos
- Pride International Inc.
- Diamond Offshore Drilling Inc.
- Nabors Industries Inc.
- Mariner Energy Inc.
- Parker Drilling Co.
- Swift Energy Co.
- Transocean Inc.
- Range Resources Corp.
- United Refining Co.
- Ensco International Inc.
- Stone Energy Corp.
- Denbury Resources Inc.
- Cameron International Corp.
- GulfMark Offshore Inc.
- Comstock Resources Inc.
- Motiva Enterprises LLC
- Key Energy Services Inc.
- Devon Energy Corp.
- Plains All American Pipeline L.P.
- ExxonMobil Corp.
- FMC Technologies Inc.
- Dresser Inc.
- Marathon Oil Corp.
- Hornbeck Offshore Services Inc.
- Schlumberger Ltd.
- Schlumberger Technology Corp.
- Total Safety U.S. Inc.
- Sunoco Logistics Partners LP
- Alon USA Energy Inc.
- Flint Hills Resources LLC
- PHI Inc.
- Encore Acquisition Co.
- NuStar Energy L.P.
- ConocoPhillips
- Hilcorp Energy I L.P.
- Western Refining Inc.
- Basic Energy Services Inc.
- Koch Resources LLC
- EXCO Resources Inc.
- Whiting Petroleum Corp.
- Seitel Inc.
- Dresser-Rand Group Inc.
- Venoco Inc.
- Holly Energy Partners L.P.
- Delta Petroleum Corp. (Unsolicited Ratings)
- Hercules Offshore Inc.
- Cimarex Energy Co.
- Clayton Williams Energy Inc.
- Complete Production Services
- Chart Industries Inc.
- Chaparral Energy Inc.
- Calumet Specialty Products Partners L.P.
- Weatherford International Ltd.
- Allis-Chalmers Energy Inc. (Unsolicited Ratings)
- Quicksilver Resources Inc.
- W&T Offshore Inc.
- Brigham Exploration Co.
- Helix Energy Solutions Group Inc.
- Frontier Drilling ASA
- Stewart & Stevenson LLC
- Maxum Petroleum Operating Co.
- Berry Petroleum Co.
- Hudson Products Holdings Inc.
- Global Geophysical Services Inc.
- Stallion Oilfield Services Ltd.
- Brand Energy & Infrastructure Services
- Titan Specialties Ltd.
- SandRidge Energy Inc.
- SM Energy Co.
- Dune Energy Inc. (Unsolicited Ratings)
- Energy XXI (Bermuda) Ltd.
- Varel Funding LLC
- McMoRan Exploration Co.
- Gastar Exploration USA Inc.
- Atlas Energy Resources LLC
- Forbes Energy Services LLC
- Bill Barrett Corp.
- Express Energy Services Operating, LP
- Alon Refining Krotz Springs Inc.
- Linn Energy LLC
- HollyFrontier Corp.
- Gary-Williams Energy Corp.

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