ENCANA, APACHE HAVE BIGGEST DRY-POWDER CHESTS TO BUY ASSETS IN 2003

Hart's Petroleum Finance Week, December, 2002

Calgary-based EnCana Corp. (NYSE: ECA) is in the best position among public, independent oil companies to buy assets with cash next year as ConocoPhillips (NYSE: COP), ChevronTexaco Corp. (NYSE: CVX) and other majors begin to restructure their upstream portfolios, and as integrated energy companies continue to sell assets to pay debt.

This is according to a new report - "Treasure or Trash?" - from Morgan Stanley's upstream oil and gas analysts. That majors will begin divesting next year is based on actual, public statements by some such as ConocoPhillips and ChevronTexaco, or is the result of statements concerning their refocus on returns at the risk of production growth.

Also, integrated energy companies, such as El Paso Corp. (NYSE: EP), will continue to sell...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.