Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (85694)	1/30/2001 5:08:58 PM
From: upanddown	Read Replies (2) \| Respond to of 95453

Where's the gas? Gas production shortfall from Lehman Brothers study reveals Q4 gas production shortfall 1/29/2001 Key US producers have disappointing results in the last quarter of 2000 By Thomas Driscoll, Analyst, Lehman Brothers US natural gas production volumes for 12 companies that have reported Q4 results have been disappointing. This group accounts for about 25-30% of US production. For this group of 12 companies (ExxonMobil, Chevron, Burlington Resources, Texaco, Unocal, Conoco, Occidental Petroleum, Kerr McGee, Amerada Hess, Murphy Oil, and Pogo Producing): Q4 net gas production totaled 10,958 mmcf/d This is down 815 million cf/d (6.9%) from last year's production of 11,773 million cf/d This is down 246 million cf/d (2.2%) from Q3 This is 1.6% below our estimate (for these 12 companies). Prior to the beginning of reporting season, we had expected Q4 production for a 41-company universe that we cover to increase 2.3% from Q3-00 to Q4-00 from 25.7 to 26.3 bcf/d, and to fall 0.3% from Q4-99 to Q4-00. If all of the rest of the companies in our universe meet expectations, Q4 volumes will be 1.5% above Q3 levels and 1.1% below Q4-99 levels. If the companies that have not yet reported miss our estimates by the same percentage as the first 12 companies have, Q4 volumes will be 0.7% above Q3 levels and 1.9% below Q4-99 levels. Over the last 12 quarters, we have tracked US gas production data for 41 companies. This sample is responsible for about two thirds of the total gas production in the US.