Our special focus this week is on Oil & Gas Exploration & Production. One of the analysts, Phillip Dodge of Stanford Group Company said in our panel discussion of this space that, despite the turbulence and downturn in this space in the last year, we have seen the bottom:
Mr. Dodge: I think we have seen bottom. Many companies have cut back significantly in their budgets for 2009 with the approach that they can stay within their cash flow if prices remain low, but they can keep the flexibility to raise spending later in 2009 if prices recover.
TWST: So it’s like trying to straddle a fence.
Mr. Dodge: Yes, I think it’s probably a good approach. They don’t want to try to forecast prices so they will live within their means unless prices recover.
For the complete Oil & Gas Exploration & Production report, including interviews with analysts covering many parts of this space, stock picks, and a full roundtable discussion, click here.
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