Top 20 Large-Cap North America Independent Exploration and Production (E&P) Companies: Financial & Operational Fundamental Analysis and Benchmarking-2012
- Published: June 2012
- Region: America, North America, United States
The ratings on Southwestern Energy Co. reflect its participation in the highly competitive, cyclical, and capital-intensive exploration and production (E&P) segment of the oil and natural gas industry, competitive cost structure, and good reserve life. In addition, market volatility is somewhat offset by a substantial hedging program and the free cash flow provided by Southwestern's natural gas utility, Arkansas Western Gas Co., which accounts for about 7% of operating income. Southwestern had year-end 2004 proved reserves of 646 billion cubic feet equivalent (93% natural gas, 83% proved developed), which are onshore primarily in East Texas (47%), the Arkoma Basin (38%), Permian Basin (9%), and Gulf Coast (6%). Standard & Poor's Ratings Services considers Southwestern's business risk profile as fair, reflecting...
Companies mentioned in this report are: Southwestern Energy Co.,Noble Energy Inc.,Wal-Mart Stores Inc.,XTO Energy Inc.,Newfield Exploration Co.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Southwestern Energy Co.,Noble Energy Inc.,Wal-Mart Stores Inc.,XTO Energy Inc.,Newfield Exploration Co.