Incorporating Lower Near-Term Prices: Upstream Oil and Gas Valuation True-Up
We have refreshed the fair value estimates for our upstream oil and gas coverage after incorporating meaningfully weaker crude prices. To be clear, there is no change in our midcycle price forecasts--$55 per barrel and $60 per barrel for West Texas Intermediate and Brent, respectively. But after the recent slump, we are factoring in lower prices in the near term, and that alone is enough to dampen valuations across the sector.WTI crude closed at $46 on Dec. 18, extending a rout that has now wip...
Halcon Resources is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the U.S. The company focuses on oil and natural gas acquisition, production, exploration and development in the Delaware Basin. The company's properties and drilling activities are focused in the Delaware Basin in Pecos, Reeves, Ward and Winkler Counties, TX.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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