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Issuer Ranking: U.S. Oil And Gas Companies, Strongest To Weakest Dec 10
Standard & Poors, Dec 2010
Abstract
The outlook for the U.S. oil and gas sector is mixed. Low natural gas prices will have a negative impact on many non-hedged exploration and production (E&P) companies. Land-based drillers will continue their strong performance, while their offshore counterparts face more stringent regulation in the Gulf of Mexico, increased supply, and lower dayrates and utilization. For refiners, we expect market conditions to remain difficult. Heading into 2011, the land-based North American E&P industry is one of the haves and the have nots. The prevailing sentiment is that the wide disparity of high prices for oil and natural gas liquids (NGLs) versus low natural gas prices will continue. Hence, we expect those who have reserves with the potential to develop NGLs...
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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