Fitch Publishes North American Exploration and Production Handbook

NEW YORK--()--Fitch Ratings has published its North American Exploration and Production Handbook, which provides an analysis of trends in the North American oil and gas sector. The handbook includes: rig counts by fuel type and by basin; pricing trends for crude and natural gas differentials and forwards; and summary financial information for 27 individual companies. Company level summaries include the credit thesis for each issuer; rating sensitivities; liquidity calculations and maturity schedules; production profiles; cash flow and credit metrics summaries; and organizational debt diagrams.

The report analyzes the following rated entities:

--Anadarko Petroleum Corporation ('BBB', Outlook Stable);

--Apache Corporation ('BBB+', Outlook Stable);

--Chesapeake Energy Corporation ('BB', Outlook Stable);

--ConocoPhillips ('A', Outlook Negative);

--Devon Energy Corporation ('BBB+', Outlook Stable);

--Energy XXI Ltd. ('B-', Outlook Negative);

--EQT Corporation ('BBB-', Outlook Stable);

--Hess Corporation ('BBB', Outlook Stable);

--Marathon Oil Corporation ('BBB+', Outlook Stable);

--Murphy Oil Corporation ('BBB-', Outlook Stable);

--Newfield Exploration Company ('BB+', Outlook Stable);

--Occidental Petroleum Corporation ('A', Outlook Stable);

--Pioneer Natural Resources Company ('BBB-', Outlook Stable);

--Southwestern Energy Company ('BBB-', Outlook Stable);

--Unit Corporation ('BB', Outlook Stable).

Non-rated entities:

--Chevron Corporation;

--Cimarex Energy Co.;

--Concho Resources Inc.;

--Continental Resources, Inc. ;

--Denbury Resources Inc.;

--EOG Resources, Inc.;

--Exxon Mobil Corporation;

--Linn Energy, LLC;

--Noble Energy, Inc.;

--Range Resources Corporation;

--SandRidge Energy, Inc.;

--SM Energy Company.

The North American Exploration and Production Handbook is available on the Fitch web site at 'www.fitchratings.com' or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

North American Exploration and Production Handbook

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=864645

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Mark Sadeghian, CFA
Senior Director
+1-312-368-2090
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Media Relations:
Alyssa Castelli, +1 212-908-0540
alyssa.castelli@fitchratings.com

Contacts

Fitch Ratings
Mark Sadeghian, CFA
Senior Director
+1-312-368-2090
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Media Relations:
Alyssa Castelli, +1 212-908-0540
alyssa.castelli@fitchratings.com