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Issuer Ranking: U.S. Oil And Gas Companies, Strongest To Weakest Jul 10
Standard & Poors, July 2010
Abstract
As we look toward the second half of 2010, 'uncertain' would be the best adjective to describe conditions in the oil and gas sector. Natural gas prices remain low and, in Standard & Poor's Ratings Services' view, gas prices could continue to decline given high inventory levels and rig counts. Efficiencies in drilling techniques, strong hedge books, and drilling to hold leases have combined to sustain production and increase the rig count. However, our outlook on oil prices continues to remain positive supported by global GDP growth and supply discipline particularly from OPEC. Although we expect refiners to post a good quarterly financial performance, we believe conditions will be weak in the second half of 2010 as throughput volumes remain...
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 existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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