UPDATE -- ITG Investment Research Releases Energy Industry and Institutional Investor Survey Poll of Participants at ITG Investment Research Conference
NEW YORK, Dec. 15, 2015 (GLOBE NEWSWIRE) -- ITG Investment Research today released a survey of leading energy industry executives and investors in the public and private equity markets. The survey was conducted at the ITG Investment Research Play by Play Energy Conference in Houston in early December, which drew nearly 300 energy professionals from 118 firms. The conference offered detailed technical presentations by several senior Calgary-based energy analysts from ITG Investment Research and guest presenters, covering established and emerging energy plays across North America including the Eagle Ford, Bakken, Midland, Permian Basin, Marcellus and Utica, among others.
Oil Prices: Two-thirds assume WTI crude will be at or below $60/bbl when making investment decisions, while fewer than 5% use long-term prices at or above $80/bbl.
Natural Gas Forecasts: 50% of the industry executives and investors use long-term NYMEX natural gas price decks of $3.00/MMbtu, while 30% use $2.50/MMbtu. When asked whether gas was more likely to reach $1.50 or $3.50 first, 60% of respondents chose the lower price.
Long/Short Plays: Nearly two-thirds of respondents would like to have additional long exposure to the Permian Basin in 2016, weighted to the Delaware sub-basin. 50% of respondents would choose to have short exposure to either the Tuscaloosa Marine Shale or Appalachia, with another 13% preferring to avoid Canada.
E&P Sector: Only 40% of respondents expect the Exploration & Production sector to outperform the S&P 500 in 2016, similar to last year’s survey result.
The energy research group has a dedicated team of geological and petroleum engineers and financial analysts covering more than 150 companies operating in every key North American and many international energy plays. ITG announced on November 5, 2015 that it had agreed to sell the Energy Research group to private-equity firm Warburg Pincus. As part of this transaction, ITG will continue to provide the group’s energy research to its institutional clients, serving as the exclusive sales partner for institutional investors.
For more details and photos of the Play by Play energy conference, please visit www.itg.com/lp/2015-play-by-play-energy. To request a full copy of the survey results and access to the several hundred slides of conference presentation materials, contact email@example.com or call the New York sales desk at 212-444-6100.
ITG (NYSE:ITG) is an independent broker and financial technology provider that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. From investment decision through settlement, ITG helps clients understand market trends, improve performance, mitigate risk and navigate increasingly complex markets. ITG is headquartered in New York with offices in North America, Europe, and Asia Pacific. For more information, please visit www.itg.com.
J.T. Farley (212) 444-6259 firstname.lastname@example.org
(December 15, 2015 - 11:06 AM EST)
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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