Oil & Gas: Refining, Independent and Major Integrated

Topics Covered: Capital Expenditures and Consolidation Activity, Refining Crude Price Differentials, Frontier Exploration and Development, Shale Drilling Capital Expenditures, Oil and Gas Price Divergence, Oil Price Expectations, LNG Global Pricing Differentials

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Companies Covered: Anadarko Petroleum Corp. (APC), PetroQuest Energy Inc. (PQ), EOG Resources, Inc. (EOG), Continental Resources Inc. (CLR), Denbury Resources Inc. (DNR), Cabot Oil & Gas Corp. (COG), Range Resources Corp. (RRC), Southwestern Energy Co. (SWN), Ultra Petroleum Corp. (UPL), Forest Oil Corp. (FST), Clayton Williams Energy Inc. (CWEI), Berry Petroleum Co. (BRY), Marathon Oil Corporation (MRO), Occidental Petroleum Corporati (OXY), Anadarko Petroleum Corp. (APC), Exxon Mobil Corp. (XOM), Petroleo Brasileiro (PBR), Chevron Corp. (CVX), BP plc (BP), Interoil Corp. (IOC), YPF S.A. (YPF), Petrobras Energ?a Participacio (PZE), Ultrapar Holdings Inc. (UGP), Tenaris SA (TS), Chesapeake Energy Corporation (CHK), Atlas America Inc. (ATLS), Hess Corporation (HES), Transocean Ltd. (RIG), ConocoPhillips (COP), Schlumberger Limited (SLB), Apache Corp. (APA), Noble Energy, Inc. (NBL), Rex Energy Corporation (REXX), Gulfport Energy Corp. (GPOR), Carrizo Oil & Gas Inc. (CRZO), McMoRan Exploration Co. (MMR), Freeport-McMoRan Copper & Gold (FCX), Plains Exploration & Productio (PXP), Rosetta Resources, Inc. (ROSE), Pioneer Natural Resources Co. (PXD), Approach Resources, Inc. (AREX), Eni SpA (E), Total SA (TOT), PetroChina Co. Ltd. (PTR), Mariner Energy, Inc. (ME), Cheniere Energy, Inc. (LNG), Fieldpoint Petroleum Corp. (FPP), Double Eagle Petroleum Co. (DBLE), Evolution Petroleum Corp. (EPM), Questar Corp. (STR)